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While no one could predict where the U.S.-Iranian clashes might lead, the capture of the Iran Ajr gave the U.S. military a big lift. Defense Secretary Weinberger was elated as he hailed the operation: "We were capable, we were ready . . . and they ((U.S. forces)) did an extraordinary, skillful and difficult task very well." The successful military show was staged only a week after the FBI's seizure of a much wanted Shi'ite Muslim terrorist, Fawaz Younis, who was lured onto a yacht in the Mediterranean, seized and spirited off to stand trial...

Author: /time Magazine | Title: Caught In The Act | 10/5/1987 | See Source »

Some industry experts predict that the Gap will regroup in time for Christmas. In San Francisco and two other locations the company is trying out a tony kind of store, new for the Gap, called Hemisphere shops, to cater to an upscale market. "We're going to adapt," vows Drexler. "It's a matter of speeding up our creative process." And despite last week's setback, the Gap remains one of the most profitable chains in the country. "I see some hopeful developments for 1988," says Loeb. "You do sometimes have a season that is wrong, but that doesn...

Author: /time Magazine | Title: Falling into The Gap | 10/5/1987 | See Source »

What would be a sufficiently frightening financial event to trigger such a crash? No one knows precisely. Panics are based largely on mass emotion rather than analysis, and the global economy has become so complex that economists cannot predict with certainty what combination of stresses and strains is required to produce a chain reaction. For example, no particular dollar figure for U.S. indebtedness will suddenly trigger alarm bells. Says David Colander, an economics professor at Middlebury College: "Our $8 trillion debt is almost an irrelevant figure. Technically this economy could support a $30 trillion debt as long as the people...

Author: /time Magazine | Title: How Ripe for a Crash? | 10/5/1987 | See Source »

Dukakis campaign aides said while they are pleased by the governor's strong showing in many states, it is too early to predict who will be the front-runner. Campaign strategisits said they will persue the same campaign plan, regardless of the impact of Biden's withdrawl...

Author: By Elsa C. Arnett, | Title: Duke Campaign Makes Strong Showing | 9/29/1987 | See Source »

This plant sparked protest in Boston's Mission Hill district over the past decade because its smoke was considered a health hazard. State estimates predict that four more people will die of lung cancer over the next 40 years because of nitrogen dioxide pollution belched from the plant...

Author: By Martha A. Bridegam, | Title: What Does Harvard Want? | 9/29/1987 | See Source »

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