Word: planeteers
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Dates: during 1990-1999
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Citing suffocating competition in the "eater-tainment" business and its own overaggressive expansion, Planet Hollywood is closing nine U.S. locations ahead of a planned filing for Chapter 11 bankruptcy. Gone are its glittering towers of sterno in Chicago, Houston, Miami, Phoenix, Fort Lauderdale, Indianapolis, Maui, Gurnee, Ill., and Costa Mesa, Calif.; the chain will also upgrade several of its 70-plus remaining restaurants worldwide and revamp its menus, according to CEO Robert Earl. (No more Ramburgers?) The chain is digging deep for the extra cash ? its two largest shareholders and a trust for Earl's own children have agreed...
...Hard truths: Planet Hollywood stock, which sat at $24 shortly after going public in 1997, is now at 19 cents (yes, cents). Founding partners Arnold, Bruce, Demi, Sly and Whoopi aren?t exactly the hip-kid draws they were at the turn of the decade. And almost any operation that in seven years opens more than 80 restaurants (including ones in Bangkok and Dubai) is bound to have growing pains; PH?s latest was a $228 million loss for the quarter that ended in December 1998. Despite Earl?s rote assertion that "Today is the first step in our plan...
Germans do not enjoy a reputation as fun lovers. But Die Zeit, one of the country's leading newsweeklies, recently started playing six degrees of separation with gusto. According to one social theory, everyone on the planet can be connected to anyone else in six steps. So the paper asked Salah Ben Ghaly, an Iraqi immigrant who owns a local falafel stand, to whom he would most like to be linked. Ghaly, naturally, chose MARLON BRANDO. It took some months, but Die Zeit managed to relate them. A friend of Ghaly's who lives in California works in the same...
...Objections to the treaty may be based more on the uncertainty of a post-Cold War world than on strategic considerations. "The U.S. really doesn't need to test nuclear weapons any longer because we have more than enough bombs to destroy all life on the planet," says TIME U.N. correspondent William Dowell. "Maintaining the readiness of that strategic arsenal is already being done via computer testing; the U.S. hasn't conducted an underground test in seven years." The treaty, which would only come into effect once all nuclear-capable states have ratified it, is, however, considered an important brake...
NASA Loses Mars probe as it nears planet. Do Martians understand "Return to Sender...