Time Magazine Contents Page Vol.134, No. 22 NOVEMBER 27, 1989

60

COVER: As the art market explodes, auction houses and dealers are the winners, museums and the public are the losers

Bids spiral to new records, and foreign investors scramble to buy, shifting old power bases. In a market it no longer controls, America sells more than it buys, the art world turns into the Art Industry, and liquidity is all. The result is that people are being deprived of access to their cultural heritage, and the richness of visual experience is collapsing under the brute weight of price.

20

NATION: As Europe's oppressed nations look to the West, the Bush Administration gropes for a policy -- and a vision

Lech Walesa is welcomed in the U.S. as a hero and pleads to let "deeds follow words" in Congress. But diplomatic caution and crippling deficits could shut America out of the emerging European order. -- The House swaps a pay hike for an honorarium ban, but the Senate passes on the bucks. -- As the S & L scandal spreads, the spotlight turns on the federal regulator who let the looting continue. -- Tornadoes strike 14 states, devastating Huntsville, Ala., and a New York school.

36

WORLD: An irresistible tide is sweeping the East bloc as reformers in Bulgaria and Czechoslovakia follow the East German lead in pressing for democracy

Thousands of demonstrators shake the remaining hard-line regimes. -- Could East Germany hold its own in a partnership with West Germany? -- A hotbed of protest in Leipzig. -- Guerrillas storm the capital of El Salvador, resulting in the deaths of hundreds of soldiers, rebels and civilians, and the brutal slaying of six Jesuit priests.

57

SCIENCE: A universe full of bubbles and walls

In charting the heavens, two astronomers have found giant cosmic voids with surfaces made of galaxies. They have also discovered a "Great Wall" of galaxies so big it runs off the map.

72

BUSINESS: Technology transforms TV

Local stations use satellites to expand their newscasts -- and their profits. GM is angry over leaked pictures of its top-secret Saturn. Sony and Warner strike a deal.

80

NATURE: A dip with the dolphins may be fun, but is it right?

Swimming with these lovable animals is getting more popular all the time, but critics argue that such programs put dolphins and people at risk solely for entertainment and profits.

87

THEATER: Everything old is new again

Five musicals, adapted from familiar favorites, strut onto Broadway. A wunderkind offers a Caine Mutiny-style drama for the Ollie North era.

90

PROFILE: Notre Dame football's Lou Holtz

In the cathedral of college football, the names of legendary head coaches -- Rockne, Leahy and Parseghian -- still echo. But get ready to add a new name to the list: Holtz.

94

ESSAY: Thanks for the holiday greed has not yet ruined

No one has ever figured out how to make much of a buck out of Thanksgiving. That is why it stands as a tranquil oasis amid the tawdry tinsel trappings of modern life.

6 Letters

12 Interview

16 Critics' Voices

56 Medicine

58 Milestones

58 Religion

71 People

78 Ideas

79 Press