Newswire

Newswire

  • Not So Short And Shallow

    As the recession drags on, the Fed cuts rates-but will it do the trick? ...
  • Kkr: From Oreos To Magazines

    It was a case of the masters of leverage bailing out the high prince of debt. Last week a partnership controlled by Kohlberg, Kravis, Roberts, the New York financial firm famous for engineering takeovers like RJR Nabisco's, announced it would buy most of the U.S. magazine holdings of Rupert Murdoch, the debt-strapped media baron. The $650 million deal (which came just days after KKR announced it would back Fleet/Norstar's $625 million acquisition of the failed Bank of New England) calls for the KKR group to buy nine publications. The list includes the Daily Racing Form -the most profitable-and New York, Seventeen and Premiere. Not sold were TV Guide, with which Murdoch refused to part, or the newcomer Mirabella, which KKR refused to buy. ...
  • Broadway Hothouse

    A children's classic grows into a big musical ...
  • Race On Campus: Failing The Test?

    America's colleges and universities, once havens of tolerance, have become laboratories for social antagonism ...
  • A Rapist's Letter

    It could be the most terrifying letter a woman ever receives. Convicted rapist Jeff Gambord recently wrote at least 20 northern California women whose names and addresses he picked from the phone book, begging them to send money for therapy. In the letters, Gambord, 30, enclosed a newspaper story describing him as a sexual sadist and sociopath who began exposing himself and setting fires at the age of 4. Gambord was convicted of rape in 1981. In 1982, he wrote a local paper that he feared he'd rape again when released. Soon after he was paroled in 1985, he did. Gambord, serving a 27-year sentence in Folsom Prison, will be up for parole in 2002.
  • The Skirts Of Summer

    Spandex is out, finally. Hotpants and Lycra leggings are closet staples. But this is the summer of the skirt-worn, says Vogue's Anna Wintour, with nude panty hose, A sampler of the season's trendier looks: Flirtatious, kicky. But ban the bobby socks and sneakers or you'll look like a cheerleader.Graceful, romantic, covers cellulite and bulges. Next to going naked, nothing's cooler on a steamy day.Hot and trashy--at clubs like Tatou. Wear it anywhere else, and it's just plain trashy.Skin-tight body huggers are great if you've got attitude-and legs like Naomi Campbell.SKIRTS COURTESY OF BARNEYS (3), LIMITED EXPRESS
  • In Praise Of The F Word

    Tens of thousands of 18-year-olds will graduate this year and be handed meaningless diplomas. These diplomas won't look any different from those awarded their luckier classmates. Their validity will be questioned only when their employers discover that these graduates are semiliterate. ...
  • Rocket's Blast, Swann's Song

    Raghib (Rocket) Ismail took the money and ran to Canada last week. Notre Dame's wide receiver announced a sweet deal with the Toronto Argonauts. He gets at least $14 million over four years--a lot more than his top offer from the NFL--plus an eventual 6 percent ownership in the team. Rocket's liftoff left room in the draft for guys like Eric Swann. He went to Phoenix in the first round-the first draft pick without a college degree since 1946. It's a dream come true for Swann, who said, "I thought my football career was over when I didn't pass the SATs."
  • Social Workers Or 'Sex Police'?

    When an unmarried mother applies for child support in Louisiana, she is asked these questions about the father: When did the sexual relationship begin? Under what circumstances did you get pregnant? Did you have sex with anyone else either three months before or after your pregnancy? Now the ACLU, saying the state Department of Social Services is acting as "sex police," has filed a violation-of-privacy suit for four female applicants offended by the questions. State officials insist they are simply trying to get the best possible information on paternity in order to make the father pay child support. But the ACLU says this can be done with a blood test-and without humiliating the mother.
  • There Ought To Be A Lawyer

    Sting has just been outdone in the race to be the most-dedicated-movie-star-cum-political-activist. Ron Silver's going to law school. His motivation: not to be Alan Dershowitz, but to be a more effective leader of the Creative Coalition, a nonprofit activist group, and a more knowledgeable president of Actors' Equity (he takes over in June). As a visiting scholar at Yale, Silver isn't required to write papers or take exams, but he tries to make it to his classes in legislation and the First Amendment every week (absences for things like the Oscars are excused). He credits his first semester with "helping to clarify my thinking" on issues like the regulation of electronic media. When he was younger, Silver actually planned a career in the law, "but after I got into acting being a lawyer didn't seem as direct a way to fame, fortune and girls."
  • The $93 Billion Dogfight

    Lockheed wins a 'flyoff' to build a new fighter plane. But is it needed? ...
  • Outfoxing Boris Yeltsin

    Gorbachev neutralizes his most important rival and stands off another challenge from hard-liners ...
  • Bush Team Edition

    To George Bush, domestic affairs taste like broccoli: yecch!! But the CW is that he'll have to eat it anyway. Foreign affairs is a tastier dish but can spoil quickly. ...
  • Next: Mouthwash 'Light?'

    You've heard of light beer and low-fat cakes. A preliminary study by the National Cancer Institute may bring the newest "light" product-mouthwash. The survey of 2,115 patients found that people who regularly use mouthwash loaded with 25 percent or higher levels of alcohol may face an increased risk of mouth and throat cancer than those who don't rinse at all. The study wasn't a breath of fresh air for Warner-Lambert Co., the makers of Listerine. The oral rinse contains 26.9 percent alcohol, the only leading mouthwash in the study's risky range. ...