To many anxious Westerners, the Tehran Hilton hotel was a reassuring enclave in the tumultuous time before the 1979 revolution that toppled Shah Mohammed Reza Pahlavi of Iran. There was Muzak in the elevators, alcohol behind the bar and oil and technology traded across the tables.
Henry Wallich, a 70-year-old governor of the U.S. Federal Reserve Board, sat pensively at the head of the 30-foot-long mahogany table that dominates the Washington-based central bank’s boardroom. One of seven governors who plan U.S. monetary policy with board chairman Paul Volcker, Wallich has to choose his words carefully—economic musings are capable of stampeding world stock markets.By James Fleming7 min
Single and unemployed, Daniel Taillon left his home town of Montreal in 1977 in search of a future. He was 20 years old. Faced with Montreal’s stagnating economy, linguistic tensions and a dwindling anglophone population, Taillon—who despite his French surname speaks only English—recalls feeling that the city was dying, “and I didn’t want to die along with it.”By Anthony Wilson-Smith6 min
The scene had been meticulously orchestrated as the climax to a public relations triumph. Fresh from chorussing When Irish Eyes Are Smiling and signing a record number of bilateral accords, Ronald Reagan and Brian Mulroney wrapped up their “Shamrock Summit” talks last week by strolling on the ramparts of Quebec City’s historic Citadel.By Marci McDonald6 min
They came in small boats or straining on foot through the gently waving reeds of the oil-rich Hawizah marshes that straddle the border between Iran and Iraq. Ill-equipped and badly trained, eight divisions of Iranian regulars and revolutionary guards— about 100,000 men—launched a long-expected attempt to cross the Tigris River and cut the strategic highway that links the Iraqi capital of Baghdad with Basra, Iraq’s major port city, near the head of the Persian Gulf.
The setting of the gala dinner was tastefully elegant. Overhead, the six large chandeliers that grace the red, blue and gold Confederation Room in Parliament’s West Block provided a turn-of-the-century charm. But when about 200 economists, labor leaders, consumer advocates and government bureaucrats sat down at flowerdecked tables for the inaugural dinner of the National Economic Conference last week, the strains that would later appear were already becoming evident.
When you read all the newspapers telling you they never expected the Shamrock Summit to amount to much, remember how they hyped it for all it was worth before it began. Remember, also, an important fact about news and media: there isn’t enough news to go around.By Charles Gordon5 min
Tralee, a pleasant town on the west coast of Ireland, looks like a picture in a travel brochure. Old gentlemen in peaked caps hunch over their pints of Guinness in the pubs debating the merits of various Irish whiskies. And in late summer the 17,000 local residents welcome hordes of tourists, drawn by the Rose of Tralee Festival—a week-long revelry in honor of maidenly virtue.By PHILIP C. WINSLOW, PHILIP C. WINSLOW4 min
David Stockman entered the room briskly, his clipped pace and harried look indicating clearly that the Reagan administration’s budget chief was in a hurry. Sitting in his shirtsleeves for a briefing, the 38-yearold former Harvard theology student, who has served as director of the office of management and budget for the past four years, was obviously tired.
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