Word: latelies
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Dates: during 1980-1989
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State budgets have been severely strained by a combination of dwindling help from the debt-ridden national Government and Washington-mandated increases in spending for catastrophic health care and nursing homes. State officials also blame some unexpected consequences of the 1986 federal tax-reform law. Late in 1986 taxpayers rushed to sell securities and property before capital-gains taxes jumped from 20% to a current maximum of 33%. Some state planners rosily assumed this high revenue would continue. Cigarette smokers will pay for the miscalculation...
Most of the property being acquired in the S & L bailout is concentrated in the Southwest, where the bulk of insolvent thrifts overextended themselves during the oil-boom days of the late 1970s and came to grief in the oil crash of the mid-1980s. The thrifts began repossessing property when borrowers could no longer meet payments, often because homeowners lost their jobs or business owners suffered from plunging sales as the energy-based economy declined. In many cases the loans should never have been made. Observes James Noteware, national director of real estate for the accounting firm of Laventhol...
...Students League in New York City. But actual interest in the Michelangelo of Neosho, Mo., was fairly low, which mirrored the poor esteem into which American regionalism, the populist art movement that in the '30s had tried to assuage the miseries of the Depression, had slumped. From the late '40s onward, regionalism had come to look cornball, and its project, which was to rescue American art from the supposed corruptions of Europe and New York, almost comically dated...
...artists, engineers and enthusiasts gathered for their big show, the computer-graphics experts had special reason to celebrate. Late last month two of their own, John Lasseter and William Reeves of Pixar, a computer manufacturer in San Rafael, Calif., won the first Academy Award given for a totally computer-generated film -- a short subject called Tin Toy that starred a rambunctious baby and a windup music man. Says Jaron Lanier, founder of VPL Research, a small Redwood City, Calif., company that makes the equipment used to help people enter a computer-generated world: "This is the year that this stuff...
...asteroid, called 1989FC in accord with the official numbering system of the International Astronomical Union, was first detected by Henry Holt, an adjunct professor of geology at Northern Arizona University. That was in late March, after it was already moving safely away from earth. Holt spotted the speeding intruder in photographs taken through an 18-in. telescope at the Palomar Observatory in Southern California, during a systematic search for asteroids passing close by, which scientists call earth grazers. Holt figures that 1989FC may be in Hermes' league, but other astronomers dispute the claim, saying the new asteroid may be only...