Word: pay
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Dates: during 1980-1989
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...dispute erupted in September, when Sony recruited Guber and Peters to head Columbia for $2.75 million in annual salaries plus profit-sharing bonuses. Sony also agreed to pay $200 million for Guber-Peters Entertainment, which the two men operate. Warner Bros. responded with a $1 billion suit against Sony for inducing Guber and Peters to break their Warner contract. Said Ed Atorino, who follows the entertainment industry for the Wall Street firm Salomon Bros.: "Sony didn't read the fine print. Warner made them pay...
...result? The economic growth of Latin America is now zero. Our countries have had to commit more than 50% of the value of our exports to debt service. That's intolerable. No country in the world can do this. If the U.S. was forced to accept these conditions to pay its debt, that would be really disastrous...
Also, it's just good business. The inability of ((Latin American)) countries to pay their debt has created another problem that is even more damaging than the debt burden itself: an inability to import. Yet our countries are a market . that is indispensable to the growth of the industrialized nations. So resolving the problem of debt means opening markets to the industrialized countries...
...many people, may be all that art means. The art market has become the faithful cultural reflection of the wider economy in the '80s, inflated by leveraged buyouts, massive junk-bond issues and vast infusions of credit. What is a picture worth? One bid below what someone will pay for it. And what will that person pay for it? Basically, what he or she can borrow. And how much art can dance for how long on this particular pinhead? Nobody has the slightest idea...
...limited the quantity and quality of acquisitions to the point where we can no longer expect to match the standards of just a few years ago." To Paul Mellon, long the Maecenas of Washington's National Gallery of Art, "everything important is ridiculously expensive . . . I just refuse to pay these absurd prices." And as the museum's buying power fades, public experience of art is impoverished, and the brain drain of gifted young people from curatorship into art dealing accelerates...