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...space of 12 hours last Thursday, Mexican Finance Minister Guillermo Ortiz Martinez undertook the unenviable task of charming, consoling and begging the forgiveness of three American credit-rating agencies, the heads of a dozen U.S. commercial banks and 400 investors and analysts who lost nearly $10 billion last month when Mexico's newly minted President, Ernesto Zedillo Ponce de Leon, abruptly allowed the peso to float against the dollar. To the investors, whose stampede to pull their money out of Mexican stocks and bonds stripped the peso of 41% of its value, Ortiz's message was, Come back, the government...

Author: /time Magazine | Title: The Perils of the Peso | 1/16/1995 | See Source »

...just a month in office struggling to retain credibility as his nation's finances appear in disarray, today fired his treasury secretary and adopted an international bailout package which hopes to stabilize the peso. Treasury Secretary Jaime Serra Puche will be replaced by another U.S. trained economist, Guillermo Ortiz Martinez. The new package is designed to limit wage and price hikes and will also include unspecified financing from industrialized nations including the U.S. and Canada. Meanwhile, the value of the peso increased today, a second straight day of improving prospects for the nation's currency...

Author: /time Magazine | Title: MEXICAN PRESIDENT CANS TREASURY BOSS | 12/29/1994 | See Source »

...mythological Orpheus committed the grievous sin of loving too much. In the face of death and disbelief, the great musician's undying affection for his muse proved to be her demise. Williams' modern incarnation of the doomed Eurydice is Lady Torrence (played by Melanie Martinez), the proud daughter of a "wop bootlegger who burned to death in his orchard...

Author: By Daley C. Haggar, | Title: Powerful Orpheus Descending Gets Down | 11/17/1994 | See Source »

Caughey gives one of the play's best performances as the threateningly sensual Val. He captures the character's odd brand of innocence as well as the raw sexuality which makes him so appealing to Lady. Melanie Martinez gives a subtle and moving performance, embodying the queer mixture of honesty and artifice that constitute Lady Torrence's character. Somewhat less successful is Liz Amberg as Carol Cutrere, a woman whose shameful past and rebellious nature both frighten and fascinate the towns "respectful" citizens. The actress' performance doesn't always have the power to sustain the scenes where Carol acts...

Author: By Daley C. Haggar, | Title: Powerful Orpheus Descending Gets Down | 11/17/1994 | See Source »

Fortunately, Martinez's fervent performance, (in spite of a rather uneven Southern accent) carries the scene. As both Lady's dying husband and her ex-lover, Sam Baum does well with the difficult but pivotal role...

Author: By Daley C. Haggar, | Title: Powerful Orpheus Descending Gets Down | 11/17/1994 | See Source »

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