Word: money
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Dates: during 1980-1989
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...Bank of Crete scandal involves allegations by the bank's owner, George Koskotas, that he systematically looted the Athens-based institution of some $210 million, and then distributed much of the money to high-ranking members of the Socialist Party (PASOK), including the Prime Minister. The commission said it found enough corroboration of Koskotas' charges, which he first made publicly in exclusive interviews with TIME last March,* to recommend prosecution of Papandreou for bribe taking and receiving stolen money...
...seemed to perplex Adams was the naive faith of his students that their education somehow had a purpose and a utility. When he finally asked an undergraduate what he intended to get out of his studies, Adams was startled by the answer: "The degree of Harvard College is worth money to me in Chicago...
...industry, must either contain costs now or risk becoming the monopoly of the wealthy, a condition that would be socially undesirable. The alternative is ever increasing prices, with the cost spread among parents, students, federal and state government, and private donors. Quality, as educators never tire of saying, costs money -- and there is no easy solution. Laments Frederick Bohen, senior vice president at Brown University: "We're talking about a bunch of lousy choices...
...editors elsewhere, notably those of the British tabloids (one of Ingersoll's heroes is Rupert Murdoch) and the breezy, chipper Toronto Sun, whose owners flirted with investing in the St. Louis project. Ingersoll is borrowing blatantly from USA Today, to the extent of labeling the new paper's sections Money, Life and Sports. Pages of USA Today are taped on a wall next to a sign reading YOUR GUIDE TO EXCELLENCE. Despite the Sun's derivative quality, Ingersoll describes the paper as "my PM, in the sense that it's creative and no one else has had the gumption...
Though Ingersoll concedes there is some financial risk, he argues that "launching the Sun is likely to turn out on an investment basis to be the best deal we've ever made. For the same amount of money, I could buy something boring that I've done umpteen times over that has the potential to earn, pretax, perhaps $2 million. The Sun has the potential to earn 15 times that. So from a risk-reward viewpoint -- which isn't why I did it -- it makes sense. From a creative viewpoint, it has a lot to do with how our newspapers...