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Soon after the menacing statements from Syria, Israeli defense officials say, they noticed that Assad was training his forces more aggressively, emphasizing attack rather than defense strategies. Most ominously, he moved his 14th division, an elite commando outfit, from Beirut, where it protects Syrian interests in Lebanon, to positions close to the frontier with Israel. Syrian officials say the recent activity is defensive and insist they have no plans to strike. Moreover, many Arab analysts accuse Israel of playing up the war talk as a means of diverting attention from the paralysis in the peace process since Netanyahu came...

Author: /time Magazine | Title: PREPARING FOR WAR | 12/9/1996 | See Source »

First Commerce's main product was stock of an outfit called DeVoe-Holbein International, a company that boasted a very interesting technology: one that could essentially extract gold and other valuable minerals from wastewater and seawater. It was a lure reminiscent of the medieval alchemists who claimed to be able to transform base metals into gold, with equally unimpressive results. Dutch authorities raided First Commerce in 1986 and forced it into bankruptcy the following year. Thousands of investors lost money, including many Americans living abroad...

Author: /time Magazine | Title: THE SECRET LIFE OF JB OXFORD | 12/9/1996 | See Source »

...least of those is MoneyGram's parent, First Data Corp., a big credit card-processing outfit that is the selling shareholder in the IPO. Last year First Data bought another data grinder, First Financial Management Corp., which just happened to own Western Union. The Federal Trade Commission took one look at the MoneyGram-Western Union union and said, Uh-uh. First Data would have to choose one and sell the other...

Author: /time Magazine | Title: HOW TO REALLY WIRE CASH | 12/9/1996 | See Source »

...Mueller's misfortune to be part of the 52nd Fighter Wing, the outfit that mistakenly downed two U.S. Army helicopters over Iraq in 1994, killing 26 people. The 52nd's commanders had failed to bring the two F-15 pilots to court-martial for their central role in the disaster. That didn't please General Ronald Fogleman, the tough-talking fighter pilot who runs the Air Force. In August 1995 he effectively ended the pilots' careers with letters of condemnation. "We are held in high regard by the public because of the integrity we demonstrate by holding ourselves accountable...

Author: /time Magazine | Title: PLACING BLAME AT ANY COST | 12/2/1996 | See Source »

...which already operate in 72 countries, want to plug into Europe and Asia in a big way. That would mean head-to-head battles with such rivals as the partnership between AT&T and Unisource, a group of European telecommunications firms, and Sprint, the No. 3 U.S. long-distance outfit, which is 20% owned by French and German phone companies. A rich prize will go up for grabs in January 1998, when members of the European Union open their sluggish state monopolies to fast competition...

Author: /time Magazine | Title: MCI'S NEW EXTENSION | 11/18/1996 | See Source »

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