Word: manhattanization
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...which gave U.N. Secretary-General Boutros Boutros-Ghali veto authority over nato air strikes, be scrapped. (Accordingly, the U.N. chief did not learn of last week's bombings until just after the air strikes began, when a note was passed to him as he dined with friends at his Manhattan residence...
JOHN HAMILTON HAS LEARNED TO HIS sorrow that bank mergers like last week's $10 billion union of Chemical Banking Corp. and Chase Manhattan can enrich investors but hurt depositors. Hamilton fled his own bank in Washington last year after the giant First Union Corp. of Charlotte, North Carolina, acquired it and raised the minimum balance for no-fee checking from $250 to $500. "We couldn't meet that every month," says Hamilton, president of a nonprofit community-development group, who shifted his money to his wife's credit union. Unlike most consumers, Hamilton isn't watching the trend passively...
Deals like the one between Chase and Chemical have aggravated concerns about the impact of bank-merger mania on employees and customers. The new giant, which will take the better-known Chase Manhattan name even though Chemical is larger, will hold nearly $300 billion in assets and eclipse its New York City neighbor Citicorp as the largest U.S. banking company. Enthusiastic investors boosted the price of both Chase and Chemical stock more than 10% in a day, expecting the increased efficiency of the combined banks to send profits zooming. But to pare annual expenses by $1.5 billion within three years...
...Eddie Ellis, and why has he been writing this humongous saga? A onetime newspaper and wire-service reporter, Ellis, 84, has lived for the past 28 years in a book-crammed (15,000 volumes) walk-up apartment in Manhattan's Chelsea district. Slowed by age and emphysema, he rarely ventures from home but is still full of vim and spunk; he spends an hour or more each day adding to the diaries, typing on an old Hermes manual...
...national will to defeat the Axis, and Broadway, Hollywood and Tin Pan Alley operating at full throttle, every G.I. could hit the beach with a song in his backpack. Terrific songs, many of them. They still sound swell today, and they even look good on the bandbox stage of Manhattan's Blue Angel Supper Club in a larkish but poignant revue called Swingtime Canteen, directed by Kenneth Elliott...