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Quite a few of these jeremiads are headed for the screen. Producer Ray Stark (Steel Magnolias, Annie) last week acquired film rights to Barbarians at the Gate, a best-selling account of the $25 billion takeover of RJR Nabisco, the largest buyout ever. Warner Bros. has paid a sum estimated to be in the high six figures for the privilege of filming Liar's Poker, an I-lived-with- savages expose of the Wall Street firm Salomon Brothers. And the cameras are ready to roll on the movie version of Tom Wolfe's blockbuster novel, The Bonfire of the Vanities...
...suffered a trade deficit of $115 billion last year, but Americans can take consolation from the tidy sum they are earning from foreigners in a service-oriented business: tourism. Last week the Government reported the first-ever U.S. travel surplus. During 1989 foreign visitors spent $34.3 billion in the U.S., or $450 million more than Americans spent abroad. The U.S. Travel and Tourism Administration predicts that in 1990 the surplus will exceed $1.5 billion...
Igniting a fire storm is precisely what Moynihan had in mind last December when he suggested rolling back the most recent hike in Social Security taxes. On Jan. 1 the rate climbed to 7.65% on the first $51,300 of a worker's income, a sum that employers must match. Moynihan would lower it to 7.51% this year...
Last year in an unusually heated council debate, the city agreed to transfer the easement to the site's developer, Carpenter & Co., for the sum of $1 million. At the time, many anti-development, activists criticized the move, saying the city could have held out for more money...
...1980s left both borrowers and creditors "loaned up." As a whole, the country's total outstanding debt is more than 180% of the GNP, almost a third higher than the postwar average. Consumer debt totals some $4.3 trillion, with total business debt about half that. Banks traditionally limited the sum of their loans to about 55% of assets and invested the remainder in government bonds and low-risk corporate instruments. But those loans now make up uncomfortably close to 70% of assets. Today both sides of the credit equation are less willing to take a chance: the debtor doubts that...