Word: paramount
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Wearing a gray Mao jacket, Premier Zhao Ziyang delivered the keynote address last week at the opening session in Peking of the National People's Congress, China's nominal parliament. His theme was "socialist economic construction," a euphemism for the wide-ranging reforms instituted by Paramount Leader Deng Xiaoping that have decentralized economic planning and decision making. Zhao spoke of "gratifying major successes" over the past year in industry, housing and agriculture. Then, in a surprising admission before the 2,712 delegates, he acknowledged that there were problems...
...best-known underdog. The American Broadcasting Co. was created in 1943 when the FCC forced the National Broadcasting Co. to give up one of its two radio networks (NBC kept the so- called Red Network; its Blue Network became ABC). Ten years later, ABC merged with United Paramount Theaters, whose chief executive, Leonard Goldenson, became president of the new company and its guiding spirit...
...bought it in 1981--Marvin Davis might be a good name for him--has presided over a festival of flops with titles like Rhinestone, The Buddy System, A Night in Heaven, Blame It on Rio and Turk 182! Last September he brought in the super-star mogul of Paramount Pictures--let's give him the name Barry Diller--to turn things around. But meanwhile the losses keep on mounting: $85 million in the last fiscal year, $12.4 million in the last quarter for which there are figures. So what does this desperate tycoon do? He sells half the shop...
...boardroom coup in the wake of the Cleopatra debacle. He made his son Richard president, then kicked him out, only to be forced aside himself a few months later. (Richard had another stint at Fox, and coproduced such films as The Sting and Jaws.) While other studios, like Paramount and Columbia Pictures, were being swallowed by conglomerates, the purchase by Davis and his partner Marc Rich seemed to presage a return to Hollywood's good old bad days of iron rule...
...country remains much better at stockpiling weapons than wheat. Military- industrial production has always been the Soviet Union's paramount priority, and the country's best brains are devoted to it. Soviet scientists and technicians, many of them first-rate by any standard, have put cosmonauts in space and built intercontinental ballistic missiles of fearsome power. But while that talent is concentrated in the military establishment, the civilian economy goes begging...