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...recession of 1981-82 put the Steffes further into debt. When they could not get a new $100,000 loan to tide them over, they filed for bankruptcy, reporting liabilities totaling $800,000. While the proceeding was pending, they kept farming, grossing at least $200,000 each year, but losing money nevertheless. Last week more than 100 of Steffes' friends lent moral support at a court hearing over $168,000 owed to the local bank. The bank won the right to temporarily seize the collateral Steffes had pledged on the loans...

Author: /time Magazine | Title: Clinging to the Land | 2/18/1985 | See Source »

When a rising tide of refugees briefly provoked rioting in the city of Port Sudan three years ago, Sudanese President Gaafar Nimeiri came under mounting pressure from some members of his government to close his nation's borders. Nimeiri would have none of it. During a climactic Cabinet meeting on the issue, he interrupted the debate and dramatically invoked the ancient Arab tradition of hospitality toward strangers. Said the President: "They are the guests of Sudan...

Author: /time Magazine | Title: Sudan Threatened with Disaster | 2/4/1985 | See Source »

THERE IS a tide in the affairs of books. At certain times, the popularity of a particular genre seems to be at its crest. Recent bestseller lists indicate that the 80s is the decade of the biography and the historical romance. They depict complete lives, some with real direction and purpose, perhaps things modern man may lack. The dreams, hopes, ambitions and achievements of the great men of a former are can offer inspiration and hope...

Author: NO WRITER ATTRIBUTED | Title: Affairs of | 1/25/1985 | See Source »

...virtue of an interim deal would be that it might tide the arms-control process over its current crisis. It would be a way of buying time and improving the atmosphere for East-West diplomacy. Also, America's allies would be mightily relieved and more likely to follow U.S. leadership on steps to strengthen the alliance, such as a buildup in conventional forces. Congress and U.S. public opinion would be similarly reassured, and similarly more inclined to support Administration defense programs...

Author: /time Magazine | Title: Wild Card on the Table | 1/21/1985 | See Source »

...late 1983, the rising tide of loan write-offs and "negative profits" thrust Continental Illinois's woes into the national spotlight, causing the FDIC to worry about paying each of the bank's depositors up to $100,000 if the bank should fall, and sending shivers through a banking industry already experiencing the highest number of individual failures since the Great Depression. All of this attention accelerated the spiral as depositors panicked flocking to teller windows to withdraw accounts totaling millions of dollars...

Author: By Joseph L. Faber, | Title: A Welcome Shock to the System | 1/16/1985 | See Source »

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