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TABLE OF CONTENTS
11
To Start With . . .
Bargains from the board room, royal tax breaks, mesozoic gifts, banquets for rival gourmets and other new offerings from the business scene.
26
Colossus in Crisis
The Bank of America, the house that Giannini built and the nation’s biggest and most profitable banking institution, was in deep trouble. And the men at the top didn’t know what was happening.
By Martin Mayer
30
Crossfire at the Bar
When lawyers face off in court these days, one of them may well be the defendant. An epidemic of legal malpractice suits is changing the way attorneys deal with their clients — and with each other.
By William L. Tabac
32
Maxim’s Name Is the Game
Pierre Cardin, the Napoleon of licensing, is trying to build a second empire on the fame of a century-old Paris restaurant. The charms of Maxim’s licenses include food packages, a champagne producer and an ambitious hotel developer from the Sunbelt. But nostalgia may not be enough.
By William H. Meyers
36
The Idea Merchant
Pat Choate pitches economic policy ideas. His biggest success to date: “competitiveness.” President Reagan has embraced the formula, and leaders of both parties have bought it for use in ’88.
By Randall Rothenberg
38
Art Inc.
Japanese businessmen have been big spenders in the art markets of the world; the latest record-breaker was a $39.9 million purchase of van Gogh’s Sunflowers. Thanks to the tax system, such acquisitions end up on public display in corporate museums.
By Susan Chira
40
A New Take on Type A
Fears that the “hurry sickness” was linked to heart disease changed the lives of millions of Americans. Now, new studies have raised doubts about the theory.
By Marilyn M. Machlowitz
58
A Times Poll of M.B.A.’s
The graduates of six leading business schools come down hard on American managers and corporate boards, but they have a few favorites — including Lee Iacocca and John Welch.
65
Gone Off Fly-Fishing
Paul Volcker, Walter Haas and Morton Swanar are among the business leaders who are gung-ho on this “delicate, demanding, athletic, esthetic art.”
By Nick Lyons
66
World-Class Performers
Three superstar money managers with different styles but a common global strategy: John Templeton, George Soros and Gilbert de Botton.
By Madelon Devore Talley
68
Betting on a Hobby
Henry De Kwaadsteniet made his fortune as a broker of second-hand commercial aircraft; now he’s making another in the high-stakes world of thoroughbred racing and breeding.
By Steven Crist
71
Over There
On the other side of the Atlantic, the prevailing dress code is oceans apart from Wall Street and Chicago. Business travelers ignore it at their peril.
By Paul Chutkow
102
Guilt-Edged
Thirty years ago, the author built a career in advertising while worrying about her children at home. Today, mothers are legion in the workplace, but the worries remain.
By Anne Tolstoi Wallach