1992-93: REVIEW AND OUTLOOK : What’s Hot, What’s Not

Well, 1992 is over, and few in the world of business will shed a tear. Many--including International Business Machines, former GM Chairman Robert Stempel and perhaps the entire California economy--would agree with Queen Elizabeth, who referred to her 40th year on the throne as annus horribilis.

Now that it’s past, here’s a tally of 1992 winners and losers.

* Hot: Newly elected Sens. Dianne Feinstein and Barbara Boxer Not: Men, Colorado Sen. Timothy Wirth, passed over for secretary of energy LIFESTYLES Hot: Renting, Dial-a-movie, Summerland, Making a living, Wayne & Garth, Teamwork LIFESTYLES Not: Owning, Videocassettes, Kennebunkport, Making a killing, Bill & Ted, Rugged individualism Hot: Casino gambling Not: State lotteries INVESTING Hot: Post card scams, Software, Bloomberg news, Small-company stocks, Peter Lynch INVESTING Not: Telemarketers, Hardware, Quotron, The Dow Jones industrials, Alan Abelson Hot: David Letterman Not: NBC Hot: Higher taxes Not: Read my lips POLICY Hot: Lower foreign interest rates, Deficit reduction, Managed trade POLICY Not: Lower U.S. interest rates, Economic stimulus, Free trade CORPORATIONS Hot: Microsoft, Chrysler, Bottom-up management, Performance-based pay, Activist corporate directors, General Dynamics, PecTel Wireless CORPORATIONS Not: IMB, General Motors, Pyramid organizations, High CEO pay for poor results, “Yes” men, McDonnell Douglas, Pacific Bell Hot: Dollars Not: Eurocurrencies