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...same time, the Securities and Exchange Commission began probing reports of rampant speculation in Santa Fe stock during the weeks just prior to the takeover announcement. The questionable trading involved large numbers of purchases in so-called call options on the Pacific Stock Exchange in San Francisco. Options contracts are trading gambles in which buyers acquire, at a fraction of the stock's market value, the right to buy or sell a quantity of stock at a fixed price within a specified period, usually anywhere from a few hours to nine months. The heavy volume of transactions in Santa...

Author: /time Magazine | Title: Forming Kuwait Oil Inc. | 10/19/1981 | See Source »

...wartime, the old masters of the School of Paris kept working: Matisse and Bonnard on their chosen imagery of Mediterranean delight, Picasso at his distorted, edgily claustrophobic figures. But with the galleries closed, censorship rampant and the choice of death or exile staring at so many artists, what "art world," as a system, could survive? The surrealists left en masse for New York; in the words of the English critic Cyril Connolly, it was "closing time in the gardens of the West...

Author: /time Magazine | Title: Art: Paris 1937-1957: An Elegy | 10/12/1981 | See Source »

Blacks find most of their white countrymen prejudiced. Mazibuko, the former schoolteacher, believes racism is rampant among whites. He worked with many whites who toned down their bigotry, "but it always surfaces." He condemns the lack of interracial communication. "In South Africa, it's racism that's reinforced by ignorance and the fact that when you're born into a racist society, you don't have a chance to make your own judgements," he said. Denis Beckett, editor of the new liberal monthly Frontline, offers a caveat. White South Africans are in his view no more racist that whites elsewhere...

Author: By James Altschul, | Title: South Africa: No Sand Left in the Hour Glass | 10/2/1981 | See Source »

...their lime pants to watch the crew races, but not many people do any of that. The men's tennis team, which bested Princeton and advanced to the national championships last year for the first time ever, did so in virtual privacy. It may be academic vigilance, rampant romance or, most likely, mere tradition, but Harvard thrill-seekers tend to head toward Fenway Park rather than Soldiers Field in the spring...

Author: NO WRITER ATTRIBUTED | Title: Fight Fiercely Harvard: | 8/14/1981 | See Source »

Says Harvard Sociologist David Riesman: "Those schools reflect a backlash against rampant peer domination in junior high and high schools in the country as a whole." Parents of students who have transferred out of public high schools complain that their children were made fun of for wanting to study and for refusing to dance or take drugs. As Theologian Carl F.H. Henry, former editor of Christianity Today, puts it: "A reasonable case is no longer made' in the public schools for moral absolutes...

Author: /time Magazine | Title: Education: A Case for Moral Absolutes | 6/8/1981 | See Source »

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