Word: techs
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Dates: during 1980-1989
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Behind that admission of public cynicism was a growing crisis of confidence in the functions of Wall Street itself. Over the past decade, the place where American business raises money for its operations and expansion has been transformed into a high-tech, high-volume supermarket in which institutional investors move billions of dollars in the blink of an electronic eye. In all, some $130 billion in stocks, bonds and other securities now change hands daily simply on the basis of telephone calls alone...
Blacks have been particularly hard hit by the shift to an economy geared more to service and high-tech opportunities than to factory jobs. In The New American Poverty, Michael Harrington writes that the greatest movement of Southern blacks to industrial cities came just as American manufacturing was beginning to decline after World War II. "That huge migration from the rural south . . . was much too great for a society that was switching from smokestacks to services, from high wages to low, and eventually to chronic high rates of unemployment that penalized the young, the less educated and the latest arrivals...
...arrival of the Corsicas and Berettas should give a much needed boost to GM, the leading automaker and world's largest industrial company (1985 sales: $96.4 billion). Only a year ago GM stood as a shining example of a U.S. firm that was rapidly adapting to the high-tech, low-cost automaking techniques of the next decade. But on its way to that goal, the company has lately come across a roadful of financial potholes -- many of GM's own creation. In the past four years, the zealously modernizing company has spent billions of dollars to build four new plants...
...expertise with the latest high-tech artillery was unsurpassed as the original James Bond, but Sean Connery had his hands full playing Malone, the broguish cop in The Untouchables, which finished shooting last week in Chicago. "It's pretty cumbersome," says Connery of the tommy gun, one of the weapons he carries when he teams up with Crime Buster Eliot Ness, played by Kevin Costner (Silverado). But the tommy gun is one of the few things the Brian De Palma movie has in common with the vintage TV series, which ran from 1959 to 1963 and featured a jailed...
...huge judgment could have a further chilling effect on the speculation that has swept the high-tech, high-volume stock market of the '80s. Boesky (pronounced Boe-ski), the son of a Russian immigrant, often played a central role in the dealmaking. His career was based on the high- rolling game known as risk arbitrage -- the opportunistic buying and selling of stocks in companies that appear on the verge of being taken over by other firms. The prices of those securities generally surge, giving arbitragers the chance to make swift profits...