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1992 Year

BUSINESS
January 3, 1993 | C.A. WEDLAN, TIMES STAFF WRITER
Jan. 6: The Food and Drug Administration issues a moratorium on silicone gel breast implants, deflating stock prices of companies making the devices. Jan. 8: Woolworth Corp. says it will close, sell or revamp 900 money-losing outlets. Jan. 10: A group of top U.S. executives who accompanied President Bush to Japan conclude a trade summit with the Japanese. Chrysler Corp. Chairman Lee A. Iacocca says the United States is getting its "brains beaten in" by Japan and should retaliate. Jan.
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BUSINESS
January 3, 1993 | TOM PETRUNO, TIMES STAFF WRITER
In a year in which so much rode on one's image--from the presidential race on down--it seems fitting that National Media Corp. would wind up one of the hottest stocks of 1992. You may not know this Philadelphia company, but you probably know their business: TV "infomercials," those ubiquitous cable and network shows that sort of look like news, but really are staged programs used to sell products.
BUSINESS
January 3, 1993 | TOM PETRUNO
Should you ever buy the biggest stock stars of the previous year? Many analysts say no--that you're too late to the party. But there's also something to be said for momentum: Like the Eveready bunny, stocks on the rise often keep going for a long time. The biggest New York Stock Exchange gainer in 1991, for example, was Chicago-based WMS Industries, which makes pinball games and video lottery terminals and owns casinos in Puerto Rico. After rocketing 669% in 1991, from $1.81 a share to $13.
BUSINESS
January 2, 1993 | From Times Staff and Wire Reports
The combined total of bank and savings association failures dropped to a seven-year low in 1992, but analysts aren't sure if the worst is over for the nation's deposit-taking institutions, especially in recession-weary California. Regulators said there were 181 failures last year, 122 banks and 59 S&Ls. That's down from 295 in 1991 and less than half the number during the post-Depression peak year of 1989 when 535 financial institutions were declared insolvent.
CALIFORNIA | LOCAL
January 2, 1993 | From Associated Press
The top religion story of 1992 as assessed by religion reporters was the November victory of two Southern Baptists, President-elect Bill Clinton and Vice President-elect Al Gore Jr. Their victory, after a campaign that dealt partly with family values, was the first time both posts went to members of the Southern Baptist denomination. However, Clinton and Gore differed with its stands condemning abortion and homosexual behavior. Also linked to the No.
ENTERTAINMENT
January 2, 1993 | ROBERT KOEHLER, SPECIAL TO THE TIMES
Thumbing through a scrapbook stuffed with review clips from 1992 gives off a strange, giddy feeling of a year having whizzed by like a train off the tracks. It also gives off something even stranger: The hard, week-by-week evidence that television--be it network, cable, public--is obsessed with anything that doesn't have to be invented, that can be recalled, retold, retranslated. It's why there are rabid fans of "Northern Exposure" and "Mystery!"
ENTERTAINMENT
January 2, 1993 | RAY LOYND, SPECIAL TO THE TIMES
It's a wrap for TV movies/'92. In a tradition begun last year, we focus a kaleidoscopic eye on the diversity, patterns, quirks, highs and a few of the more wrenching lows of the year. For all those artists and movies we missed--or didn't love or hate enough to mention--there's always, of course, next year.
CALIFORNIA | LOCAL
January 1, 1993 | ERIC LICHTBLAU, TIMES STAFF WRITER
In a year of cutbacks, closures and acrimony for government budget-makers, city leaders in Garden Grove vented their fiscal frustrations with a single, tongue-in-cheek sign, placed atop a police car. "For sale," it read. Politicians aren't ready to sell off their police fleets just yet. But the statement came to symbolize the mounting frustration over what many have declared the worst fiscal year for local governments in recent memory.
BUSINESS
January 1, 1993 | James Bates
The year just ended was marked by lots of important doings in the world of business. But did you really pay attention? Take this little test and find out. And don't worry, we won't ask you anything about BCCI--not even what it stands for. Answers on D2. 1) 1992 was a terrible year for bloated IBM and Chariman John Akers. The computer giant employs about 307,000. Within 10,000, how many jobs has IBM shed since 1986, its peak employment year? 2) Musicial thrones is always popular in Hollywood.
NEWS
January 1, 1993 | DAVE LESHER, TIMES POLITICAL WRITER
Even without most of their candidates on the ballot, 1993 promises to be an important year in Orange County politics as Democrats and Republicans begin a struggle for power that was triggered by last November's election. At stake is whether Orange County will continue to be the engine that drives California's Republican candidates to victory, or whether it will become a competitive battleground where Democrats are more than symbolic place holders on the ballot.
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