Word: sanford
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Dates: during 1990-1999
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...party defined for so long by its whiteness, Glenn is black. While most black Republicans complain of being ignored by the party, he has drawn money from such potentates as James Baker and Colin Powell. And in this majority-white district, the Democrat he has to beat, Sanford Bishop, is another black...
...Democrat eked out a 54% win over a white Republican two years ago in a district that is two-thirds white, but improved that standing with good constituent service--and an occasional visit to a rattlesnake roundup. "A lot of whites were scared to vote for a black, but Sanford changed all that," agrees R.S. Smith, 65, a white retiree in Bainbridge, looking over at Glenn. "Yeah, I'll give this fella a look...
...Sanford's vision of particle finance, every financial asset, from the mortgage you hold on your house to the items you've charged on your credit card, will become part of a giant, interconnected financial universe. And each piece of your superportfolio, called a wealth account, will be understood not simply as a "stock" or a "bond" but as an instrument designed to match your financial needs with the available options. In the same way a FORTUNE 500 treasurer may use derivatives to balance his or her need for pesos and yen, wealth accounts will precisely balance your demand...
...assets in one area to create liabilities in another. These computer-run accounts will factor in everything from the weather to the age of your children in plotting out your future demands. "Yesterday's income and today's wealth will always be known with a high degree of confidence," Sanford predicted in his 1993 speech. "Wealth accounts will be instantly tapped via 'wealth cards.' For example, you will be able to pay for your sports car by instantly drawing on part of the wealth inherent in your vacation house." Finance, suddenly packed with microchips, could become a banker-free zone...
DIED. TERRY SANFORD, 80, Governor, Senator and presidential candidate from North Carolina. Tagged one of the century's 10 best Governors in a Harvard study, Sanford aided integration and overhauled public education in his state; he was also president of Duke University for 16 years...