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Egypt's problems, though, defy easy solution. The per capita income is a meager $469 per year. Its middle class is beset by an acute lack of affordable housing. Industry is virtually stagnant, and productive foreign investment is anemic. The country now imports half of its food. Says Abdel Razak Abdel-Meguid, the American-educated Deputy Prime Minister for Economic and Financial Affairs: "Because of our favorable balance of payment statistics, the economy looks good on the outside. But inside it needs a lot of work...

Author: /time Magazine | Title: Hard Times Ahead for Egypt | 11/23/1981 | See Source »

...Harvard football team, which had never gone a full season without a victory at home, kept that 107-year streak alive Saturday, drop-kicking the University of Pennsylvania through the uprights and out of the Stadium, 45-7, before a meager gathering of 10,500 at Soldiers Field...

Author: By Michael Bass, | Title: Callinan, Gridders Thrash Penn, 45-7 | 11/16/1981 | See Source »

Thus the Administration can expect only meager and uncertain rewards for the gigantic risk it took of having its credibility in foreign policy destroyed had the AWACS sale been rejected. Why it did so can be explained in only one way: the President and his aides never fully realized what a jam they were getting into until it was almost too late to pull out. That, in turn, points to serious flaws in the Administration's foreign policymaking apparatus, which have persisted throughout its nine months in office, in part perhaps because Reagan directed the initial energies and attentions...

Author: /time Magazine | Title: AWACS: He Does It Again | 11/9/1981 | See Source »

...been recovered. Their bodies were laid amid the seaweed on the private beach. Many of the dead had been badly battered and their clothes shredded by the pounding surf. One woman clutched a fist ful of sand. A man had his shirt twisted around his neck. Among the meager belongings washed up on the beach: a copy of the New Testament, wrapped in plastic to protect it from the water. It was the worst such accident since some 50,000 illegal immigrants from the poverty-stricken Caribbean nation began arriving on U.S. shores ten years...

Author: /time Magazine | Title: Death in the Morning | 11/9/1981 | See Source »

Immediately upon buying the robots, Moneytronics turns around and leases them back to Meager Motors under a five-year deal in which the rental payments from the automaker exactly match, and cancel out, the loan payments by the high-tech firm. At the end of the lease, Meager Motors buys back the machines for $1. Result: Moneytronics not only receives a $1 million investment tax credit that offsets 50% of its down payment on the equipment, but the firm also gets to claim depreciation tax benefits. Thus it can effectively postpone paying taxes as well as enjoy interest-free...

Author: /time Magazine | Title: Leasing Profits | 11/2/1981 | See Source »

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