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...granted the long-distance franchise, and seven Baby Bells were created to run local phone services around the country. Weakening Ma Bell's muscle made it possible for others to build competing services. But it left some 3 million AT&T shareholders vulnerable. Suddenly gone was a quintessential widow's and orphan's stock. In its place was a smattering of shares of eight different companies, all entering a brave new telecom world that promised upheaval and risk, not safety. The bust-up, though, has proved a resounding success for investors who simply did nothing. One hundred shares...

Author: /time Magazine | Title: PHONE PRANKS | 6/9/1997 | See Source »

...BOOKS . . . THE BALLAD OF GUSSIE & CLYDE: Manhattan-based novelist and screenwriter Aaron Latham has written the mother of all Father's day's presents with this spare, beguiling tale (Villard; 176 pages; $19.95) of how his widowed father Clyde courted the widow Gussie Lancaster, a childhood sweetheart who more than 60 years before had moved to California. "Latham tells his 'true story of true love' in deliberate, prairie-flat language, strewing the landscape here and there with verbal posies and perhaps a few too many quotations from 17th century romantic poetry," says TIME's Jesse Birnbaum. "Still, the style...

Author: /time Magazine | Title: Weekend Entertainment Guide | 6/6/1997 | See Source »

Harvard Dining Services (HDS), which runs Loker, has reportedly lost a great deal of money this year on the increasingly underutilized establishment, which took eight years to plan and cost $25 million to build--$7 million of which was donated to the University by Katharine Bogdanovich Loker, widow of Donald P. Loker...

Author: By Amber L. Ramage, | Title: Loker Fights Financial Distress | 6/5/1997 | See Source »

YONKERS, N.Y.: Betty Shabazz, the widow of Malcolm X, is in critical condition after a fire allegedly set by her grandson left her with third-degree burns on nearly 90 percent of her body. Twelve-year-old Malcolm Shabazz, who reeked of gasoline when he was arrested Sunday, will undergo a psychiatric evaluation before being arraigned Tuesday. "There were problems there with that child," family lawyer Percy Sutton told the Associated Press. "He's a bright young man, but there were some troubles there." The boy allegedly set the fire because he was angry that he had to live with...

Author: /time Magazine | Title: Malcolm X Widow in Critical Condition | 6/2/1997 | See Source »

...moment, Tiger Woods, would benefit from the counsel of Jackie's widow Rachel Robinson, who stood as tall at Shea the other night as she did 50 years ago, when she rose from her seat to shield her husband from the racial invectives being hurled at him. During the ceremony honoring Jackie, Rachel called on America to "reawaken the feelings of unity and use them as a driving force...

Author: /time Magazine | Title: THE LION AND THE TIGER | 4/28/1997 | See Source »

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