Word: moneys
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Dates: during 1990-1990
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...offering rival menus of round-the-clock comedy. On one side of the TV dial is the Comedy Channel, run by Time Warner subsidiary HBO. On the other side is HA! the TV Comedy Network, owned by Viacom International, which also operates MTV. The problem: both channels are losing money. Hoping that two can laugh as cheaply as one, the jousting jokesters disclosed last week that they would merge to form Comedy TV. The new channel, which will draw on programming from both of its parents, should be up and chuckling by early next year...
...James River paper mill in Fitchburg, Mass., last spring -- just 3 1/2 years short of retirement. Although his children are grown, living on unemployment has required some belt tightening. "Not much you can do," he sighs. "Pay the bills. Taxes are going up, and we don't have much money coming in." It makes for a simpler life. "Once in a while we used to like to go out to a lounge and have a few dances, a couple of drinks. Once in a while probably take in a show. Now we go to McDonald...
Even if they are not planning to sell, homeowners feel poorer when values drop. "The price of your house was your standard of value in the 1970s," says Kathryn Eickhoff, president of her own economics-research firm in New York. "You couldn't make money in the stock market, but you knew your house would go up in value. But now that confidence is being tested, and people feel vulnerable...
...those with a merry nature, it may be possible to find some hidden value in the sober spirit of this Christmas season. There is a pleasure in searching for just the right gift, rather than throwing money at fads; in making presents rather than buying them; in savoring the lessons of the season, about generosity and devotion and mercy. Whatever the state of the economy, it would have been hard to waltz blithely through the holidays while the families of 280,000 troops kept vigil. As it is, the burdens, and hopes, of the season will be widely shared...
...price of oil, which closed at $25.92 per bbl. last week, well past the $41.40-per-bbl. peak that it hit in October. Another serious threat is the possibility of a crisis in the U.S. banking system, which is awash in bad loans and increasingly reluctant to lend more money. L. William Seidman, chairman of the Federal Deposit Insurance Corporation, told Congress last week that 1991 is likely to bring the failure of 180 banks with total assets of $70 billion. That would reduce the FDIC fund, which insures bank deposits, from an already weak $9 billion to $4 billion...