Word: inks
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...stiff competition from Japanese rivals, General Motors lost $1.2 billion in the first quarter of 1991, while Ford lost $884 million, and Chrysler dropped $341 million. Total: an astonishing $2.4 billion, the largest three-month deficit in automotive history. Worse, the Big Three have accumulated $4.5 billion in red ink since last fall, when the gulf crisis shattered consumer confidence, and the companies seem certain to remain in the red for the rest...
Frankel's strategy is driven partly by a fear of red ink. While the paper's readership numbers remain healthy -- the 1.2 million daily circulation is up 5% over last year -- advertising is down, as it is generally throughout the newspaper industry. The New York Times Co. newspaper group reported a 52% drop in profits, to $18.6 million, for the first quarter of this year. The Times is also keeping an eye on six-year-old New York Newsday, which is trying to fashion a niche in Manhattan as a thinking person's tabloid. If Newsday can outlast the other...
Everyone knows, more than they would like perhaps, about the nature, the publishing history and the unspeakable horrors of Bret Easton Ellis' new novel, American Psycho. However broadly it seeks to indict, in indelible, blood-red ink, the excesses and depravities of the degenerate '80s, the book has certainly raised a threshold of taste, or psychic pain, much higher than most readers would like (much as the smash movie The Silence of the Lambs exposes even toddlers to a level of psychological violence that would have been unthinkable -- or at least less powerful -- some years ago). A protagonist who eats...
Still, are most comebacks simply arena addiction? Not in Borg's case. He seems to be back now because he needs the money. But the others? Publicity is, of course, a renewable resource, but did Hall of Fame pitcher Jim Palmer really gain any bankable ink this spring by trying a comeback with the Baltimore Orioles at age 45? Palmer made the right jokes but not the right pitches. He was stopped almost instantly by a torn hamstring. Doesn't he look a little silly...
Back in election year 1990, when education was championed as the answer to everything from reducing poverty to increasing competitiveness, rare was the politician who proposed real cuts in school spending. But 1991, the year of recession, falling revenues and rising red ink, has changed all that. Governors are realizing that they cannot saw away at basic services while leaving education untouched. Republican William Weld in Massachusetts, Democrat Mario Cuomo in New York and Independent Lowell Weicker Jr. in Connecticut, hardly ideological bedfellows, have all decided to cut school budgets. Like other embattled Governors, they are also trying to shift...