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...epic legal fight with Pennzoil. As its stock plummeted and its credit began to dry up, the company was thrown into a financial crisis. Over the weekend, Texaco's board of directors gathered for an emergency meeting at the firm's White Plains, N.Y., headquarters. Following a marathon discussion, the directors chose a stunning course: the eighth largest U.S. industrial corporation (1986 sales: $32.6 billion) and the third-ranking oil firm filed for Chapter 11 protection on Sunday. Texaco suddenly became the biggest company in American history to go into bankruptcy...

Author: /time Magazine | Title: Texaco's Star Falls | 4/20/1987 | See Source »

Massachusetts Governor Michael Dukakis was a long-distance runner before it was cool, finishing the Boston Marathon as a high school senior in 1951. His political career had its own Heartbreak Hill, a devastating primary defeat when he first sought re-election as Governor in 1978. But Dukakis hit his stride with a comeback victory in 1982, and since then has compiled a record of achievement from welfare reform to tax reduction that has earned him a laurel wreath as one of the best Governors in the country. Last week Dukakis embarked on the most grueling endurance race of them...

Author: /time Magazine | Title: Marathon Man: Dukakis signs up for the race | 3/30/1987 | See Source »

Following a marathon hearing last Thursday, 20 Brown University students are awaiting possible disciplinary action for their February divestment protest that disrupted a university corporation meeting...

Author: NO WRITER ATTRIBUTED | Title: Brown to Discipline Divestment Activists | 3/7/1987 | See Source »

...chanteuse or bawd, in concerts or movies, Midler has put her body to nonstop work. Harnessing the energy of some Rube Goldberg perpetual-motion machine, prancing on those fine filly legs like the winner of the strumpet's marathon, Bette uses her body as an inexhaustible source of sight gags. She shimmies it, twists it, upends it to reveal polka-dot bloomers. In 1978 at the London Palladium she flashed the front of it; at Harvard she exposed the rear. She has made a cottage industry of her buxom bosom. In the 1985 album Mud Will Be Flung Tonight...

Author: /time Magazine | Title: Bette Midler Steals Hollywood | 3/2/1987 | See Source »

...standard of much current fiction, these events sound like small potatoes indeed, stuff to get out of the way before the corporate takeover or the bedroom marathon. But Naipaul manages to give each isolated incident the ! inevitability and gravity of history. The impression is not that so little happens in ten years but that a series of small upheavals so shake a tiny, isolated corner of the world. Having found, after some 40 years of struggle, his ideal landscape, Naipaul must watch its deterioration and decline. He can, within reason, be philosophical about this process, acknowledging that his sense...

Author: /time Magazine | Title: Books: The Gift of a Second Life THE ENIGMA OF ARRIVAL | 3/2/1987 | See Source »

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