Word: wave
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Over the past three-plus years, Bloomberg has trimmed a $6 billion budget deficit (in part by raising property taxes); spurred a wave of new economic development, especially in the four other boroughs besides Manhattan, so often ignored by his predecessors; taken control of the city's ailing schools and instituted a uniform math and reading curriculum, although the jury is still out on how much that will actually enhance students' educations; and improved the city's quality of life by banning smoking from all restaurants and bars, cracking down on noise and creating a one-stop complaint-and-question...
Having shrugged off a major operation for colon cancer, Ronald Reagan seems to have earned a new wave of public sympathy and support through his patented optimism. In a survey conducted for TIME by Yankelovich, Skelly & White Inc. during the week the President returned to work, Reagan's popularity reached an all-time high.[*] When asked to rate his performance on a l-to-10 scale, 67% put him in the top half, up 6% from May and 17% from his lowest rating, in the summer...
...wrote Humorist Art Buchwald 19 years ago, during the last big wave of corporate mergers. These days the prospect that he wryly foresaw seems considerably less farfetched. In recent months such household names as ABC, TWA and Nabisco have agreed to sell out to other firms and cease to be independent enterprises. They will follow Bendix, Gulf Oil, Conoco and other giants that have already surrendered their separate identities. Since 1980, no fewer than 62 members of the FORTUNE 500 list of industrial behemoths have been swallowed by other companies...
Corporate executives, however, have 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...
...Italy and Spain. Yet over the past few years, unscrupulous dealers in Europe and the U.S. have begun passing off the Chinese truffles as Umbrian or Périgord black diamonds. The deception has roiled the luxury-food industry, particularly as European harvests have dwindled. Last season, when a heat wave cut the Périgord bounty from the usual 50 tons to 9, the import of Chinese truffles skyrocketed to an estimated 30 tons, from 20 the year before. This season the U.S. is facing its own Chinese-truffle deluge. A strong euro has sent the price of French-truffle imports...