A Year-End Quiz

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. Which of these studios did not change chiefs in 1992? Warner Bros., Columbia, Universal, Walt Disney, Paramount, 20th Century Fox. 3) What is the net worth of Bill Gates, the 37-year-old founder of software giant Microsoft, as estimated by Forbes? Just come within $1 billion. 4) Fox owner Rupert Murdoch fired Steven Chao, president of Fox Television Stations, because of something that happened while Chao was delivering a speech. What was it? 5) How about stocks? Is the Dow Jones Industrial Average higher or lower than it was when 1992 began? 6) See if you can digest this alphabet soup. What do these acronyms stand for: a) NAFTAb) GATT c) GDP d) FOB 7) Who’s the richest California resident? 8) Within 10%, what’s the median price of a free-standing single-family home in California? 9) In retailing, the consolidation continues. May Department Stores will merge which of the following into its May Co. operation? a) Bullock’s b) Zachary All c) Robinson’s d) Broadway 10) Assume you’re on a first-name basis with Chrysler Chairman Lee A. Iacocca, who retired Dec. 31. What’s his real first name? 11) Iacocca isn’t the only familiar face who left a big job. Match these top executives with the employer they left during 1992 (or will soon leave): a) General Motors James Robinson b) ParamountNicholas J. Nicholas Jr. c) R.H. MacyBarry Diller d) Fox G.H.W. Bush e) Carter Hawley Hale Stores Robert Stempel f) Time Warner Brandon Tartikoff g) American Express Edward Finkelstein h) United States Philip Hawley 12) Lockheed did something it hopes will make its fighter business soar. What was it? 13) California’s jobless rate was 10.1% in November, the last month reported by the government. Within one percentage point, what was it in January, 1992? 14) Control of these retailers officially changed hands in 1992. Name the men whose investment groups own the following: a) Ralphs Grocery Co. b) Carter Hawley Hale Stores c) Thrifty 15) It may sound goofy, but name the executive who exercised $197.5 million worth of stock options in a single day. 16) Sears, Roebuck & Co. settled civil charges brought by California authorities. What was the giant retailer accused of doing? 17) Within one percentage point, what was the prime rate at the start of the year? What is it now? 18) Within 2 percentage points, what is the gross national product figure the government expects to report this year? 19) Name the largest California bank or thrift failure in 1992. 20) For how much of 1992 did the recession last? *Answers 1) 99,000. 2) Warner Bros., Disney, Columbia and Universal. 3) $6.3 billion. 4) The performance of a male stripper, who had been hired by Chao. 5) Higher, by about 132 points or 4.2%. The Dow ended last year at 3,301.11; the index stood at 3,168.83 when 1992 began. 6) a. North American Free Trade Agreement. b. General Agreement on Tariffs and Trade. c. Gross Domestic Product. d. Friend of Bill’s (as in Clinton, but half credit if you answered Freight on Board). 7) Rupert Murdoch (Keith Rupert Murdoch, actually), an Australian who took U.S. citizenship. 8) $194,530, according to the California Assn. of Realtors 9) C 10) Lido 11) GM and Stempel; Paramount and Tartikoff; Macy and Finkelstein; Fox and Diller; CHH and Hawley; Time Warner and Nicholas; Amex and Robinson; and obviously, U.S. and Bush. 12) Lockheed announced plans to buy General Dynamics’ fighter division for $1.5 billion. 13) 8.1% 14) a. Edward J. DeBartolo b. Sam Zell c. Leonard Green 15) Walt Disney Chairman Michael D. Eisner. 16) Overcharging on auto repairs. 17) 6.5% on Jan. 1; 6% now 18) OK, it’s a trick. The government doesn’t report gross national product as a measure of the nation’s economic health anymore. It reports gross domestic product. (There’s no official estimate, and no figure yet.) 19) Homefed Bank in San Diego. 20) According to the nation’s official recession umpire, we weren’t in a recession at all. The National Bureau of Economic Research says that, technically, the recession ended back in 1991, whether it felt like it or not. *Scoring: 20 right: You probably cheated. 15-19 right: You really kept up. 10-14 right: Not bad. 0-9 right: You should know that the Business section is usually tucked inside Sports.