Word: fever
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...American industries are currently more merger mad than banking. This year alone, scores of banks and savings and loan associations have joined forces with other institutions. Last week the fever spread all the way from New York City to Texas. First, Chemical New York, whose $56 billion in assets make it the seventh largest U.S. bank holding company, agreed to acquire Houston's Texas Commerce Bancshares (assets: $18.9 billion) for $1.19 billion. If completed, the merger will be among the biggest in U.S. banking history and will create the fourth largest bank company, behind Citicorp, BankAmerica and Chase Manhattan...
Such was the scene at Sotheby's and Christie's during the past two weeks as the speculative fever of Wall Street moved uptown and into the high-rent district. At Manhattan's two premiere bidding houses, the art market set almost hourly records, culminating last week in sales of some $120 million, the most lucrative week in auction history...
...Auction fever has also been fueled by the stock boom, which has created a new class of mega-rich Americans, some of whom are doubtless more interested in the prestige that comes with the ownership of art than they are in the art itself. "A few years ago, there was only a handful of people who could bid $1 million," says Art Dealer Richard Feigen. "Today you have unlimited billions, and at every one of these sales there are new faces...
There had been early warnings, a few cases reported around the country. But then 44 U.S. Navymen in Key West, Fla., began complaining of sore throats, fever and chills. Last week, after taking throat cultures from the men, doctors confirmed the bad news: Taiwan flu has arrived and begun to take its toll...
Still, despite the viruses' apparent potential for good, their much greater capacity for evil has been amply demonstrated. Smallpox. Yellow fever. Rabies. Polio. And now the cruel AIDS epidemic. Concludes David Baltimore: "You could get rid of all the viruses from the world and the world would not be the worse...