A Letter From the Publisher: Aug. 10, 1987

As editor in chief of the Columbia University daily, the Spectator, Sara Just, 21, spent a busy winter and spring organizing her newspaper's coverage of college life. That routine changed in June when she began her summer internship at TIME's New York City editorial offices. Before she knew it, Just was on the telephone with Government and business sources, gathering reactions to the selection of Alan Greenspan, who, as the newly chosen chairman of the Federal Reserve Board, was the magazine's cover subject.

Several weeks later Carl Bower, 21, a journalism major at the University of Maryland, learned that TIME had...