Word: manhattanization
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Dates: during 1980-1989
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...with a rosier outlook on how the world works. In this view, the U.S. has entered an era of prosperity called the New Wave. "We are in one of the most revolutionary periods in our history," says Sam Nakagama, chairman of Nakagama & Wallace, an economic consulting firm in Manhattan. Nakagama and other New Wave advocates say the record expansion owes its strength and resilience to the openness of the U.S. economy during the past decade. With the global village linked by high-speed computers and communications satellites, they argue, U.S. executives easily hurdle obstacles like rising domestic interest rates...
...shoot craps with the taxpayer's money." So said Michigan Democrat John Dingell, chairman of the House Energy and Commerce Committee, with a touch of hyperbole. The object of his barb: a Fed ruling last week that will permit five leading bank holding companies -- Bankers Trust New York, Chase Manhattan, Citicorp, J.P. Morgan and Security Pacific -- to buy and sell corporate bonds. The decision will enable the financial institutions to move, within strict limits, onto the turf of Wall Street firms, which have been encroaching on the banking business. Said Richard Huber, an executive vice president at Chase Manhattan...
...trying to improve the lot of the nation's civil servants. Now, as chairman of the New York City investment bank James D. Wolfensohn Inc., Volcker is making big money for the first time in his life. With Administrations changing in Washington, Volcker sat in the study of his Manhattan apartment for a TIME interview with author Lawrence Malkin...
Attention, raccoons: head for the hills! Not since the 1950s, when Fess Parker sported a coonskin cap on the TV show Davy Crockett, have the long-tailed hats been so popular. Manhattan-based Jack Seifter and Sons, the largest U.S. manufacturer of the caps, has seen sales double in the past several months. During 1988 the company sold 500 of the authentic caps (retail price: $100) and 10,000 versions made with fake fur or rabbit pelt and a real ringtail...
...Preservation Ball in Palm Beach, Fla., and Trump, the subject of this week's Profile section, invited McDowell to fly there with him from New York aboard his recently acquired Boeing 727. Twenty months later McDowell was once again airborne with Trump, this time diving and rising around the Manhattan skyline in Trump's French Puma helicopter. If Trump is not a comfortable interview for those with queasy stomachs, neither is he an easy subject when it comes to probing the mysteries of what makes Donald...