A Letter From the Publisher: Jun. 20, 1988

The Oct. 19, 1987, stock-market crash was a dramatic test not only of the world's financial institutions but of the world press as well. The dizzying swiftness of the collapse, its global dimension, the complexity of the underlying economic issues -- everything about it challenged journalism's ability to distill meaning out of fast-breaking news. So I am gratified to report that TIME's coverage of Black Monday has earned a John Hancock Award for Excellence, one of the most respected U.S. prizes for business and financial journalism. The citation lauded "The Crash," our Nov. 2, 1987, package of cover stories, for examining...

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