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...worth remembering. In an interconnected world, points out Jeffrey Garten, dean of the Yale school of management, a small spark can start a huge conflagration. In 1930 it looked as if the consequences of the 1929 market crash might be contained; it was the collapse in 1931 of the Austrian bank Creditanstalt that turned a market correction into a worldwide slump. Similarly, the global financial crisis of 1997-98 started with the devaluation of the Thai baht--though Thailand's whole economy is about the size of Kentucky...

Author: /time Magazine | Title: Are You Worried Yet? | 9/3/2001 | See Source »

...Along with bailing out of airline partnerships, Swissair has been selling non-core assets in hopes of lightening its debt load. Swissair ended its 10% stake in Austrian Airlines and sold its hotel division Swiss?tel to the Raffles group for $247 million. Corti said he expects to raise a further $1 billion by selling aircraft and leasing them back. But he also noted that the debt had fallen just slightly, so it was still around $4.4 billion at the end of June (its equity in December was only about $720 million...

Author: /time Magazine | Title: Turbulent Times for Swissair | 8/20/2001 | See Source »

GEORG RIEDEL Austrian crystal glassmaker...

Author: /time Magazine | Title: Artisans | 8/20/2001 | See Source »

...Riedel's flagship crystal is still produced in the time-honored way, with glowing lumps of molten glass mouth-blown into cast-iron molds and fitted with hand-fashioned stems and bases by master craftsmen working in two factories at Kufstein, in the Austrian Tyrol near the German border, and at Schneegattern, north of Salzburg. Riedel glasses are near-perfect examples of ongoing innovation in traditional craftsmanship...

Author: /time Magazine | Title: Artisans | 8/20/2001 | See Source »

...theme song Everybody's Talkin' for the 1969 hit movie Midnight Cowboy; in Summerland Key, Florida. Neil emerged from the Greenwich Village music scene in the mid-1960s. The Florida native later founded the Dolphin Research Project to stop the trafficking and exploitation of dolphins. DIED. CHRISTL HAAS, 57, Austrian skiing champion, who won gold and silver medals in the 1964 Olympics, and the bronze in 1968; in Manavgat, Turkey. Even when retired, she remained popular in Austria, which marked her 50th birthday with a documentary about her life...

Author: /time Magazine | Title: Starting Time | 7/23/2001 | See Source »

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