July 1, 1992

It was, in its way, a distinctly American tragedy, one built, perhaps, on greed and carried out with a casualness and ineptitude that shocked even the most seasoned of law-enforcement officials. It was, said Gary L. Penrith, the special agent in charge of the Newark Office of the Federal Bureau of Investigation, an "unbelievably despicable" crime. The largest kidnapping investigation in recent history began on April 29 with a car standing empty at the end of a secluded suburban driveway, its motor idling, its driver gone.

A weeklong Midwest journey found disappointment with President Bush but also skepticism about Ross Perot and Gov. Bill Clinton. Page A14.

Seeking to slow an increase in illicit trade with Iraq, the Bush Administration failed to win greater cooperation from King Hussein of Jordan last week to enforce the United Nations trade embargo. Washington is now considering a broader plan to stop illegal shipments after they arrive in Iraq, Administration officials said today.

President Bush's temper seemed to get the better of him in Detroit on Monday night. Speaking to a group of Republican contributors, he said he was tired of hearing that the economy is not getting better when he is sure that it is, and he thinks Americans have just not gotten the word. Waving his arms in the air and nearly shouting, he said he is sick of not getting credit for the Persian Gulf war, the fall of communism and arms-control breakthroughs.

Olympia & York Developments Ltd. is expected to disclose today in court documents in Toronto that the value of its real estate assets fell by as much as $4 billion in Canadian currency in 1991, bankers and others said yesterday. The staggering write-down is largely a result of reappraisals of the insolvent company's real estate and other assets, but it also includes a small operating loss for last year.