BY HARRY RING
Paradox indeed - The Inter-American Development Bank
warned that the Latin American privatization drive is
swelling the profits of foreign investors, but not reducing
unemployment. It warned that this "paradox" could create a
political backlash. More than 57 percent of the Latin
American labor force are "informal" and "underemployed"
workers.
The `robust' economy - "More Americans filed for bankruptcy protection in 1997 than ever before. Federal officials said 1.35 million individuals and 54,000 businesses sought protection from creditors.... An overall total 20 % higher than 1996." - News item.
Big Macs the antidote? - Researchers said a study "suggests" that folks with a low cholesterol levels may be more violence-prone.
Oil, truth, and TV don't mix -Lloyd Bridges, the veteran actor who died recently, starred for four years in "Sea Hunt," a popular TV underwater adventure series, Then he quit in a rift with the producers. "They wanted more cops and robbers," Bridges said, "I wanted to look at the real villains of the sea, like the oil companies."
Your friendly neighborhood bank - "Chase Manhattan Corp., the largest U.S. bank, said it will cut 4,500 jobs, or 6.5 percent of its staff, to reduce costs and invest in more profitable businesses." - News item.
More downsizing - The Queen of England may trim down the royal family by limiting privileges and duties to senior family members. And, to give the monarchy a common touch, bowing and curtseying to the queen is now optional. "[She] does not expect it," a Palace source assured. Next, a dress- down day?
Frustrated - Last year's sales at LL Bean, the mail order biggie, busted the $1 billion mark, an increase of 3 percent over the previous year. This was disappointing, a spokesperson said, because they had hoped for a 10 percent increase. Therefore, they won't give workers a bonus this year. Instead they'll dole out wage increases based on "individual performance."
Their good deed - Each year in Britain, 20,000 Scouts are awarded scientist badges. For the next three years, the badges will feature the logo of the British Nuclear Fuels company which, in exchange will contribute $48,000.
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