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...shelter is about as tangible as an electronic banking transaction: a piece of paper documenting their part ownership of a shopping mall in the next state or an oil-drilling site half a continent away. But for some 30 investors with a special sense of romance-and risk-the payoff from an unusual Florida operation was the kind they could touch, even fondle: silver ingots the size of paving blocks, gold chains, gold bars, fistfuls of gold and silver coins, a coral-encrusted anchor, a bronze cannon, an emerald ring-all lost at sea 361 years...

Author: /time Magazine | Title: From Davy Jones, a Tax Shelter | 4/11/1983 | See Source »

When History Professor Jon Wiener made a Freedom of Information request to the Federal Government for the late John Lennon's file, he could hardly have hoped for a richer payoff. "Every month or so I would get a little package of documents from the FBI," said Wiener, who is with the University of California at Irvine and is writing an admiring book about Lennon and the politics of the 1960s. "Then one day 26 lbs. of material arrived: the entire Immigration Service file." Heavily censored, the FBI's records, as well as the hefty Immigration documents, told...

Author: /time Magazine | Title: Beatlemania | 4/4/1983 | See Source »

...life, ranging from shrimp, mollusks and crustaceans to numerous varieties of finfish. Any major disturbance of this fragile ecosystem could have far-reaching repercussions. Unfortunately, as Rodriguez Mercado notes, there is little awareness of the economic importance of these resources. Few officials seem willing to trade off the immediate payoff of a new hotel for the long-term benefits of a protected reef or thriving coastal estuary...

Author: /time Magazine | Title: Environment: Fighting Blight in Paradise | 4/4/1983 | See Source »

...Schweiker in his budget message in January, "belongs to federal policies that have actually rewarded inefficiency in health care." President Reagan evidently agrees. In his 1984 budget, delivered to Congress Jan. 31, Reagan outlined sweeping changes in Medicare, Medicaid and private employer-based group health insurance. The projected payoff in Medicare and Medicaid savings: an estimated $2.1 billion in 1984 and $19.3 billion through...

Author: /time Magazine | Title: Taking Two Aspirin Won't Do | 2/28/1983 | See Source »

...enough to drink!" 29 state legislatures passed laws lowering the drinking age. But with an average of 5,000 teen-agers dying each year in drunken-driving accidents, the trend slowed down. Since 1976, 20 states have hoisted the drinking age back up by one to three years. The payoff has been dramatic: in at least eight states, a higher drinking age was followed by a 28% reduction in nighttime fatal accidents involving 18-to 21-year-olds...

Author: /time Magazine | Title: Nightcap | 1/3/1983 | See Source »

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