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When the Texas jury first pronounced the verdict against Texaco, the sum was so enormous that it seemed absurd. The award appeared certain to be reduced drastically on appeal. Almost no one believed that Pennzoil, the 200th largest U.S. industrial corporation (1986 sales: $1.78 billion) and the 20th biggest oil company, would be allowed to topple a titan about 18 times its size. But Texaco soon learned that it was dangerously vulnerable to an unusual provision of Texas law. In this case, it required Texaco to post a bond for roughly the full amount of the judgment while the company...

Author: /time Magazine | Title: Texaco's Star Falls | 4/20/1987 | See Source »

...luncheon in Manchester, N.H. An elderly woman grabbed him by the sleeve and yanked him to her side. "There are too many foreigners buying up our land," she complained. He bent down next to her chair. "Aw, come on," he chided, "don't look at it as a zero- sum game. We want people to invest in America." She listened sullenly as he tried to explain his vision of an unfettered free market. "Well, you think about it," she interrupted, shaking her finger. He masked his exasperation with an affectionate pat on the back. "I will," he promised...

Author: /time Magazine | Title: Campaign Portrait, Jack Kemp:The Quarterback Of Supply Side | 4/13/1987 | See Source »

Bantam Books bought the privilege of publishing Destiny for $1,015,000, "a sum," its publicity release announces, "greater than the combined advances earned by Stephen King, James Michener, Sidney Sheldon and Danielle Steel for their first novel." Aside from the tantalizing but possibly erroneous suggestion of a King-Michener-Sheldon-St eel collaboration, there is not much to celebrate. For one thing, a cool million no longer induces the slack-jawed awe it once did; everyone knows that insider traders on Wall Street can steal that much before lunch. And British Author Sally Beauman is not really a first...

Author: /time Magazine | Title: Books: Ed And Helen | 4/13/1987 | See Source »

...million in demonstration projects works out to just $2 million per congressional district spread over five years. Even though, to paraphrase the late Senator Everett Dirksen, a million here and a million there eventually add up to real money, that is a pretty meager sum alongside the public-works projects that used to be whooped through Congress in the days before the deficit doldrums. As Republican Congressman Jim Bunning of Kentucky cracked, "Calling this a pork-barrel bill is like calling a strip of bacon a luau...

Author: /time Magazine | Title: Road Warriors | 4/13/1987 | See Source »

...potato-chip varieties are like the changes made in bread," says Richard Duchesneau, president of Tri-Sum Potato Chip, which has operated in Leominster, Mass., since 1908. "People got tired of standard white, and now when you walk down the supermarket aisle, you'll find wheat, oat berry, cracked wheat and more. It's the same with chips." Though they profess an interest in foods that are low in salt and calories, Americans last year spent an estimated $3.3 billion dollars (an increase of 75% since 1980) on deep- fried chips, generally strewn with salt. The market is dominated...

Author: /time Magazine | Title: Food: One Potato, Two Potato . . . | 3/30/1987 | See Source »

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