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...trusted member of Gotti's Gambino crime family had secretly taped conversations between the capo and his confederates over a 30-month period. The informant, a self-styled former hit man named Dominick Lofaro, was brazen enough to carry a concealed wire right into Gotti's lair, the Bergen Hunt and Fish Club in Ozone Park, N.Y. His cooperation with authorities marked the first time that a Mafia "soldier" had ever worked as an informant while on active duty. The intelligence coup, said one New York City police officer, was "like penetrating the Kremlin...

Author: /time Magazine | Title: Code Violation | 9/15/1986 | See Source »

...Placid Oil Co. and its creditor banks. On the surface, the squabble over corporate bankruptcy seemed mundane. In fact, the rancorous debate was anything but routine. For Placid is not just any oil company. It is the crown jewel of the financial empire built by the legendary Texan H.L. Hunt and ruled today by his beleaguered sons and heirs. Behind the legal posturing was nothing less than a desperate struggle to save the remnants of one of America's most fabled fortunes...

Author: /time Magazine | Title: Down to Their Last Billion? | 9/15/1986 | See Source »

...garbage- compaction area. But the following Monday, Continental's data processors discovered they were short $227 million in checks that the bank had honored but not yet entered in its computers. A crew of janitors then began searching the immediate area, to no avail. Finally, after an anxious hunt, they located the documents in the compaction room amid bundles of wastepaper mingled with noxious cigarette butts and cardboard coffee cups. If the checks had not been found, Continental would have faced the laborious job of straightening out a $227 million imbalance in its books. Last week, however, when...

Author: /time Magazine | Title: Banking: The Check Is in the Pail | 9/8/1986 | See Source »

...known in May [that the Prince would meet with students], it could have been done in a more systematic way," Hunt said...

Author: By Gregory R. Schwartz, | Title: Only 49 Students Will Chat With Charles | 9/4/1986 | See Source »

...Hunt acknowledged that the selection was "done as rapidly as possible" because of the short notice organizers had of the possibility of a meeting with students. "However, we tried to be as representative as possible among those students who were going to be around [at the 350th]," he said...

Author: By Gregory R. Schwartz, | Title: Only 49 Students Will Chat With Charles | 9/4/1986 | See Source »

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