Word: months
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Dates: during 1990-1999
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...airlines are finally fighting back. Leading the way is Richard Branson, chairman of Virgin Atlantic Airways. In the aftermath of the assault on Weir, who required 18 stitches, Branson engineered a British lifetime air-travel ban on Handy. As the industry convened last month in London to address the overall problem, he urged carriers to establish a worldwide air-rage database to blacklist the worst offenders. "There [must] be a deterrent against this behavior," Branson says...
Signs are emerging, however, that the slump may be nearing bottom, or at least slowing. By the end of last month, stock prices in Hong Kong, Thailand, Malaysia and South Korea, while still far below their peaks, had bounced up 50% or more from their deflated lows of summer. The Japanese government has announced yet another economic-stimulus program, and optimists hope this one might actually be carried out. Meanwhile, a timely international rescue plan for Brazil has eased fears that Asia's ills would spread inexorably to Latin America, then to the U.S., then Europe, back to Asia...
...from slow growth and high unemployment. Though the new European Central Bank will officially be independent of any national government, political leaders of the 11 countries will be pressing the bank to lower interest rates and keep them down, in coordination with the U.S. Federal Reserve. (Early in the month, all 11 countries, for the first time, cut interest rates simultaneously.) Sharp fluctuations in exchange rates would be a very unwelcome complication to this effort. So, Putnam predicts, financial technocrats will get involved. "Instead of getting wild swings, we may end up with fixed exchange rates" between the euro...
...large part the growth is due to resurgent generosity among the ultrarich, whose pockets have fattened the most during the decade's boom. A survey released last month by U.S. Trust found that the wealthiest 1% of Americans say they gave away an average of 8% of their after-tax income in 1997, up from 5% in 1993. Says Paul Schervish, a philanthropy expert at Boston College: "A sleeping giant is awakening...
...billion fortune to the United Nations in the form of an annual pledge of $100 million in Time Warner stock. He may have started something. The world's richest man, Bill Gates, long derided for being too penurious, has put $2 billion into his two charitable foundations. Earlier this month he donated $100 million in cash toward vaccinating children in the developing world. It was just one of numerous conspicuous gifts made in 1998. Among them: Armenian-American billionaire financier Kirk Kerkorian's $200 million in aid to earthquake-ravaged Armenia, and businessmen Ted Forstmann and John Walton...