Word: parts
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Dates: during 1980-1989
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...more routine responsibilities, such as leasing office space from Beijing to Boston, Davis has supervised the installation of our global computer system. "TIME was in the Dark Ages in 1984," she says. "Many correspondents were working on typewriters and sending their copy by wire." Now, thanks in no small part to training they received from her, they write on computers and use telephone lines to transmit their stories with the press of a key. "Some people take to it like a duck to water," Davis says, "and others require a lot of hand-holding." One incentive for the correspondents...
...staggering cost of correcting the situation came into sharp focus last week, when the Federal Home Loan Bank Board, which regulates thrift institutions, announced a two-part bailout of 20 Texas S and Ls that could ultimately cost the Government $6.8 billion. First, the Bank Board conducted a fire sale of twelve failing Texas institutions, including Richardson Savings (assets: $707.8 million) and Mercury Savings ($332.9 million). The S and Ls will be merged and turned over to an investment group led by William Gibson, an executive vice president at Chicago's Continental Illinois bank, for a token $48 million...
...Bank Board's moves are part of its so-called Southwest Plan for consolidating 109 ailing Texas S and Ls by the end of next May. The thinking behind the mergers is that the firms will save money by combining and streamlining operations and thus stand a better chance of survival. But the rescue plans will put a severe strain on the already cash-starved Federal Savings and Loan Insurance Corporation (FSLIC), the industry insurance fund that provides the money for the bailouts...
...industry is far from over. Competition is growing both among U.S. bankers and with foreign institutions. "There won't be 14,000 banks and 3,000 thrift institutions forever," says Robert Abboud, the former First Chicago president who last year became head of Houston's failing First City as part of a federal rescue. But not even a tough survivor like Abboud knows which banks will stay and which will...
...merchants, skilled producers of pottery and metal tools, sophisticated architects and town planners. "While they existed," says Archaeologist Seymour Gitin, the American director of the William F. Albright Institute of Archaeological Research, "the Philistines served as a link between East and West. They introduced a new culture in this part of the world. Eventually they became a great trading power and a powerful industrial nation with their individual style...