Word: karat
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...Christmas The New Yorker will be heaving with ads for crystal yaks and other lavish doodads in "limited editions," for which one assumes there must be buyers. Saks Fifth Avenue, which advertises itself as all the things we are, has recently decided that we are a 14-karat gold charge plate ($750). Of course such stuff is not for the multitudes. But you would think that the multitudes might get rather sore at the spectacle of the luxuriating few. Occasionally they do. Today in Italy and West Germany, the rich are growing shy about strutting their stuff in public...
American Express, meanwhile, is advertising in its Christmas catalogue an auto that puts the fictional solid-gold Cadillac to shame-a two-seat DeLorean sports car electroplated in 24-karat gold. Cost: $85,000. A new company founded by former General Motors Executive John DeLorean will build the car in Northern Ireland. Gushes the American Express ad: "The car of the future is so spectacular that it surpasses the imagination...
...DeLorean appears to exceed the 55-m.p.h. speed limit while standing still. It is expected to get 22 m.p.g., about the same as a diesel-powered 1981 Cadillac Brougham. Entry to its luxuriously appointed interior is through gull-wing doors that tilt up instead of swinging out. The 24-karat car will pose some special maintenance problems. Owners wishing to get any dents knocked out will probably have to return the damaged part to the factory, where the bumps will be pounded out and the piece refinished in gold...
...those bondholders want to get back on the gold standard. Their suit argues that 1974 legislation allowing Americans to once again hold gold nullifies the earlier law. If the gold bugs win, a 14-karat $1,000 bond would be redeemable for about $25,000 at today's metal prices...
Then came the hard labor, as the thieves carried out 800 lbs. of gold and 3,000 lbs. of silver. They took thousands of 14-karat bracelets and ring mountings and swept up packages of jewelry that were wrapped and ready to be sent to customers. Upstairs, they found silver and gold scrap stored in 50 5-gal. cans. Police believe the thieves were in the building for at least three or four hours and eventually escaped, obviously, by truck. Richard Andrews, the insurance investigator on the case, estimates that the gold and silver could be worth as much...