Word: manhattanization
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Dates: during 1980-1989
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...addition to the rebuff on principle, women shunned the mini for economic reasons. "Especially since the October crash, people are more cautious," says Karen Guthrie, 30, a title-insurance company manager in Los Angeles. "Now even yuppies have budgets." In a fit of fashion passion, Susan Rockford, 40, a Manhattan attorney, plunked down $1,000 for a sexy little suit but soon recovered. "It could go out of style in six months," she sighs. "I returned...
...apparel industry, the mini's failure has been a real financial chiller. "The guts of the market is daytime wear," says Neal Fox, president of the Washington-area Garfinckels stores. Abandoned skirts at hefty reductions off the original price twirl idly on sales racks at Manhattan's Saks Fifth Avenue. According to Millstein, the industry lost billions in markdowns. U.S. Commerce Department figures indicate that sales of women's clothes in February dropped 3.6% from the year before...
...Wall Street's handicappers seriously expected TV Tycoon Merv Griffin to win when he challenged Manhattan Developer Donald Trump for control of Atlantic City's Resorts International hotel and casino. But last week Griffin surprised anyone who doubted his dealmaking acumen. Settling a month-long wrangle, Trump agreed to go along with Griffin's offer to buy the company's outstanding stock, including the developer's majority share, for an estimated $300 million. In exchange, Griffin will sell Resorts' nearly completed Taj Mahal hotel-casino, other real estate and its fleet of helicopters to Trump, assets that the developer says...
...stock price were already plunging. The same day that Disney released the film, Roy Disney made a splash of his own by resigning from the board to launch an effort to oust the top management. He sensed an outside takeover looming, which he aimed to fend off. Meanwhile, Manhattan Raider Saul Steinberg, hearing a tip about Disney's turmoil, began to buy a huge chunk of its stock. Contending that Disney was worth more money in pieces than as a whole, Steinberg proposed to sell off everything but the theme parks...
Eisner had been a latecomer as a Disney fan. Growing up on Manhattan's Park Avenue, he seldom watched TV or went to the movies. Eisner's parents -- his father a lawyer-entrepreneur and his mother the president of a medical- research institute -- strictly rationed his pop-culture consumption. Recalls Eisner: "For every hour of television I watched, I had to read for two hours." Eisner dabbled in premed studies as a freshman at Ohio's Denison University, but eventually found better chemistry in the literature and theater departments. The first time he saw a Disney film was several years...