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...billion buyout, to be financed mostly by giving Commercial Credit stock to Primerica shareholders, marks a triumphant return to Wall Street for Weill, 55, who built the investment firm that has become Shearson Lehman Hutton. What gave Weill his opportunity was a strategic miscalculation by Primerica Chairman Gerald Tsai, 59, who paid a lofty $750 million for Smith Barney just a few months before last year's crash. The debt he incurred in buying the firm became burdensome when Smith Barney's brokerage business sagged after Black Monday. Weill, as head of the combined firm, intends to sell Primerica...

Author: /time Magazine | Title: MERGERS: If at First You Don't Succeed | 9/12/1988 | See Source »

...LETTERS OF EDITH WHARTON (Scribner's; $29.95). The writer's marvelously acute and poignant love letters, penned during an ill-fated mid-life affair, offer a new look at the private pains of a publicly triumphant life...

Author: /time Magazine | Title: Critics' Choice: Aug. 22, 1988 | 8/22/1988 | See Source »

...LETTERS OF EDITH WHARTON (Scribner's; $29.95). The writer's marvelously acute and poignant love letters, penned during an ill-fated mid-life affair, offer a new look at the private pains of a publicly triumphant life...

Author: /time Magazine | Title: Critics' Choice: Aug. 8, 1988 | 8/8/1988 | See Source »

Wharton's letters offer a look at the private pains of a publicly triumphant life. Born during the Civil War, Wharton flourished until almost the beginning of World War II. She inherited considerable wealth and earned a great deal in addition by her writing; such novels as The House of Mirth, The Custom of the Country, Ethan Frome and The Age of Innocence were critical and commercial successes. She became so formidable a literary icon during the 1920s that F. Scott Fitzgerald, invited to meet her, drank more than was advisable to steady himself before his audience with the great...

Author: /time Magazine | Title: Books: Public Triumph, Private Pain THE LETTERS OF EDITH WHARTON Edited by R.W.B. Lewis and Nancy Lewis; Scribner's; 654 pages; $29.95 | 7/25/1988 | See Source »

Finally, in 1965, the triumphant mission of the U.S. spacecraft Mariner 4 brought some reality to musings about Mars. The craft flew past the planet at a distance of only 6,100 miles, transmitting 22 television pictures of a bleak, moonlike landscape, pockmarked by craters and showing no signs of life. Even so, hope persisted. To demonstrate that a Mariner flyby at a distance of thousands of miles might completely overlook a thriving civilization, a young and still unknown Carl Sagan that same year sifted through a thousand pictures of earth shot by a weather satellite orbiting only 300 miles...

Author: /time Magazine | Title: Space: Onward to Mars | 7/18/1988 | See Source »

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