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Dates: during 1980-1989
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...Wind, the federal investigation of Pentagon procurement fraud: "I can't believe our Government, the Congress and Executive, lets a system like this endure." In fact, the judge was so disgusted that he handed out astonishingly light sentences to the first two defendants convicted by a jury as a result of the probe (twelve other people have pleaded guilty). Teledyne Electronics executive George Kaub could have received 40 years in prison. His co-worker Eugene Sullivan could have got 20 years. Instead they will serve six and three months, respectively, in a halfway house. Prosecutor Henry Hudson declined to comment...
Just in time to hit motorists at the start of the peak driving season, gasoline prices have risen about 25% in the past two months, to a U.S. average of $1.25 per gal. The pain at the pump is largely the result of higher crude- oil prices, and no relief is in sight. Members of the Organization of Petroleum Exporting Countries, whose squabbling has sometimes led to price wars, were relatively cooperative with one another when they met last week in Vienna. Because of strong worldwide demand for OPEC's crude, the group decided that it could boost its self...
Throughout his years in power, Deng balanced moderate vs. hard-line factions in every organ of the state -- the party, the government, the military. The result was paralysis: important decisions were frequently avoided or ignored. Deng remained the ultimate arbiter, but hobbled by age and his penchant for toughing out dilemmas, he increasingly played off would-be successors against one another, letting their disagreements fester into bureaucratic skirmishing...
...response, Davis says he discussed a friendly merger with Munro and Time president N.J. Nicholas several times from 1986 through 1988, but was rebuffed on each occasion. As a result, Davis told TIME senior correspondent Frederick Ungeheuer, "I said we would not do anything hostile and would respect Time's decision to remain independent." But Time then "put itself up for sale," Davis argued, by agreeing to merge with Warner. He said the deal would end Time's independence because the merger would give Warner shareholders 60% of the stock of the combined company...
...turned mercenary, Wylie tops them all in aggressiveness and acerbity. Says he: "This little East Hampton approach to publishing, where publishers and agents share summer houses so that they can get together and shaft the writers, has gone by the board -- I'd like to think partially as a result of our efforts...