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...been anything but cautious. Beginning with a spate of billion-dollar oil-company buyouts in 1981, the merger wave has rolled over virtually every industry. This year alone, acquisitions have produced the largest U.S. gas distributor (Internorth-Houston Natural Gas), a medical giant (Baxter Travenol-American Hospital Supply), a vast food-processing concern (Nestlé-Carnation) and one of the mightiest high-technology combinations (Allied-Signal). Last week even brought a proposed sports marriage between the New Jersey Generals and the Houston Gamblers of the U.S. Football League. The number of megadeals this year could wind up challenging the pace...

Author: /time Magazine | Title: Bigger Yes, But Better? | 4/18/2005 | See Source »

...medical research so far, huge questions remain about its origin and fundamental nature. In trying to understand AIDS, says Dr. William Haseltine, a leading investigator at Harvard's Dana-Farber Cancer Institute, "we have moved from being explorers in a canoe to explorers with a small sail on the vast sea of what we do not know...

Author: /time Magazine | Title: AIDS: A Growing Threat | 4/18/2005 | See Source »

First, Norway's Ingrid Kristiansen rode the roar of the hometown aficionados to a 10,000-meter time of 30:59.42, a vast 14.36 sec. better than the old record. Next, Morocco's Said Aouita just out-dueled the U.S.'s Sydney Maree, shaving .01 sec. off the 5,000-meter record with his 13:00.40. Finally, Cram and Coe, 28, came onstage with eleven others for the classic confrontation to determine who would reign among the world's milers. Many experts, including Cram in his quiet, pleasant way, felt that the outcome was virtually certain. One possible question...

Author: /time Magazine | Title: Sport: Glory Night at Feelgood Stadium | 4/18/2005 | See Source »

Like any high church, West Point relishes pomp. On crisp autumn Saturdays, tourists flock to the vast greensward known as the Plain to watch the corps of cadets parade by in their gray swallowtail coats adorned with gold braid. The essential West Point, however, is never on public display. It is hidden behind stone battlements, in bleak inner courtyards of black asphalt. In these forbidding surroundings, the rite of passage into the Long Gray Line begins every July with a seven-week ordeal that is officially labeled Cadet Basic Training but is better known as Beast Barracks. Plebes are weaned...

Author: /time Magazine | Title: West Point Makes a Comeback | 4/18/2005 | See Source »

...days is a once obscure transaction known as the leveraged buyout. In such operations, corporate officers are turning publicly held firms into private businesses that are free from the demands of short-term investors and the unwanted attention of corporate raiders. In the process many of them are making vast profits for shareholders and themselves...

Author: /time Magazine | Title: The Popular Game Of Going Private | 4/18/2005 | See Source »

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