Word: steeping
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...fact that the benefits of Deng's reformist economic policies have gone to members of a Chinese elite that includes the well-connected children of Communist officials. The favored youth have a far better chance than most of getting good jobs or traveling abroad after graduation. Faced with a steep rise in the cost of living as a result of the reforms, many students are finding their already spartan daily lives less and less tolerable. Says a Peking university student: "Peasants are getting rich, workers get bonuses, but we still get our measly fixed allowance...
...life." He thinks the Dow will probably pierce 1600 before declining grudgingly. David Bostian, president of Manhattan's Bostian Research Associates, is optimistic about the longterm outlook for stocks but warns that the bulls may stumble in the next few months. Says he: "We're way overdue for a steep correction. An investor should not be doing aggressive new buying...
Palm Springs was as a health spa in Agua Caliente Indians claimed the area's deep mineral springs could cure tuberculosis. Later it became a quiet refuge for Hollywood stars. Other affluent families followed the entertainers, relishing the beauty of the desert and the steep mountains that tower above the resort on three sides. Air conditioning took the sting out of the 120° summer heat; cool nights and tangy mornings enticed the active residents into swimming pools and onto tennis courts and golf courses. But now Palm Springs is becoming overdeveloped and even turning a bit tacky in spots. Meanwhile...
...Arab tycoon. He solves the Munch case by pretending to be a buyer for the wealthy J. Paul Getty Museum in Los Angeles, a role that allows him, as his work often does, to accessorize lavishly: seersucker suit, big bow tie, bigger Mercedes. It also requires him to steep himself in Scream scholarship. To ensure that con men would not try to fool him with a counterfeit version, he even memorized the pattern of wax droplets left on the work when Munch blew out a candle one night...
...Morris USA, calls the plan a "last-minute, desperate attempt" to save the case. But Justice lawyers say that far from staging a retreat, they are betting on the "virtual certainty" that the tobacco industry won't change its ways in one year and thus will be liable for steep penalties for years to come. --By Brian Bennett