Word: owner
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Dates: during 1980-1989
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Though it is too early to tell if the network has produced an Edsel, the bodywork so far looks good. Generations' actors are largely veterans. Taurean Blacque (Hill Street Blues) plays family patriarch Henry Marshall, owner of a chain of five Chicago ice-cream parlors. Lynn Hamilton (The Waltons) is Henry's mother-in-law, Vivian, who years earlier was a servant in the Whitmore mansion. Her former mistress, Pat Crowley (Dynasty), is the lawyer Rebecca < Whitmore, Marshall's attorney and a troubled divorcee. These three, along with members of both families, knot the skein of story lines in which...
When Ross Johnson, flamboyant head of RJR Nabisco, lost his bid for control of the giant food and tobacco company in a $25 billion leveraged-buyout brawl last year, he also lost his job. Last week RJR's new owner, the buyout firm Kohlberg Kravis Roberts, announced its surprise choice for Johnson's replacement: Louis Gerstner, 47, marketing maven and president of American Express...
Another heavy blow in the '80s was deregulation of rail, truck, bus and airline service, along with the breakup of the Bell system. These changes permitted corporations to abandon service or increase rates in thousands of small towns. H.E. ("Ned") Valentine, owner and editor of the Clay Center Dispatch (circ. 3,800), finds the outcome ironic: "Both Presidents Carter and Reagan espoused small-town American values. Both were admired for it. But Carter's deregulation program, amplified by eight years of Reagan, has taken its toll here...
...radically new magazine that became TIME. Hadden lived only long enough to see TIME become a success; under Luce, Time Inc. grew into the largest magazine publisher in the U.S. When Luce died in 1967, Time Inc. had four magazines. Today it publishes 13 and is part owner of another eleven. Along the way it also became one of America's most significant book, video and cable-TV companies...
...charges came from George Koskotas, 34, imprisoned owner of the Bank of Crete and onetime crony of the ruling elite of the Socialist Party (PASOK). Koskotas, now a fugitive from Greece, is accused of looting his bank of more than $210 million. In jail in Massachusetts and facing extradition, Koskotas told TIME that much of the missing money was used to make regular payoffs to PASOK officials...