Word: persian
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...allow the Navy to buy 104 more Harrier gyroscopes (total price: $300,000), which are made only by Northrop. Because the gyroscopes last only about two-thirds as long as promised, the Navy has been grounding the planes. At least 10 of the jets are now stationed in the Persian Gulf. Says John Conyers of Michigan, chairman of the House Government Operations Committee: "Northrop is a case study in botched Pentagon procurement...
When Dan Rather returned from the Persian Gulf, his billionaire boss invited the anchorman to a welcome-home lunch -- in the CBS cafeteria. As both men considered the "Mexican Week" choices, a mariachi band serenaded them with La Cucaracha...
...slumping U.S. economy. A recession could raise the already astronomical price of the bailout by pushing more thrifts into bankruptcy and making it harder for the government to find buyers for seized S&Ls and their assets. Federal Reserve Chairman Alan Greenspan warned Congress last week that the Persian Gulf crisis has "introduced new and substantial risks" to the economy. Washington's latest measures of economic activity showed just how gloomy the outlook has become, as the Consumer Price Index rose 0.8% in August, equivalent to an annual rate...
ALLIED FORCES IN THE PERSIAN GULF...
...neither signs of hardening alienation nor scattered election returns signal border-to-border upheaval. Norman Ornstein, a consultant on the Times Mirror project, argues, "Linkage between these attitudes and political action hasn't yet been made in most places." One reason is that the Persian Gulf crisis has dominated the news and overshadowed the hard-to-focus outrage at the S&L debacle. Further, many entrenched incumbents raised so much money so early that worthy rivals never entered the fray...