Word: manhattanization
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Dates: during 1980-1989
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...disease (The Golden Girls) and teenage drunk driving (this week's segment of Valerie's Family). On a recent episode of Kate & Allie, a middle-class mother of two (Jane Curtin) got a taste of what it is like to be homeless when she found herself stranded in Upper Manhattan without any money. The segment closed with a gallery of stark black-and-white shots of real homeless people. The producers wanted to add a public service announcement giving viewers a toll-free number to call for information about the homeless, but CBS executives drew the line at using such...
...other players think that now is a good time to get into the game. Says T. Boone Pickens, the Texas oilman and raider extraordinaire: "If companies were attractive targets when the Dow was at 2500, they will be even more attractive with the Dow at 1800." Manhattan Financier Asher Edelman has spent $72 million since late August to accumulate 11.5% of Foster Wheeler, a New Jersey-based construction company; much of the buying came as the firm's stock tumbled, from $21 to $11.25, amid the crash. Paul Bilzerian, a Florida investor who has made more than $50 million...
Many stockbrokers are nervous for another reason: the wrath of their clients. "I want to strangle my broker," says Manhattan Insurance Agent Matthew Costa. "I wanted to sell everything on the Friday before the crash, but she told me I had good stocks and should hold on. Now she keeps giving me excuses why she can't meet me for a few days." While Costa's threat was figurative, customer anger seemed all too real last week after an investor who lost nearly his entire multimillion-dollar portfolio walked into a Merrill Lynch outlet in Miami with a .357 magnum...
...three (64%) say a major economic downturn is very or somewhat likely in the next twelve months. "Since about 19% of total retail sales occur during November and December, the plunge could not have come at a more inopportune time," says Robert Chandross, chief economist of Lloyds Bank in Manhattan...
...microbrewers, one might expect all of their products to be delicious. But a tasting of 13 varieties purchased in the New York City area proved this is not quite the case. Among the most disappointing -- because they lacked flavor or because of unpleasantly sharp and metallic aftertastes -- were Manhattan Brewing Co.'s bottled Gold lager and its draught Oktoberfest and Amber beers. In bottles, Anchor's Porter, Liberty Ale and Wheat Beer, Boulder's Porter and Extra Pale Ale lacked authority, as did Minnesota's August Schell's Pilsner and Cold Spring Export "water-made." The best...