When This Dropped

May 24, 1988

President
Reagan
Dow (EOY)
2,169
Gas/gal
$0.90
Big Mac
$1.70
Min Wage
$3.35

Gas cost $0.90 a gallon in the spring of 1988, and the Dow Jones stood at 2,169 — recovery from the 1987 Black Monday crash was still underway as markets worked their way back from one of the worst single-day drops in Wall Street history. On television, Americans were tuning in to "The Cosby Show," the dominant series of the era, while Billy Ocean's "Get Outta My Dreams, Get Into My Car" sat at the top of the pop charts. The Los Angeles Lakers defeated the Detroit Pistons to claim the NBA championship that year, and on April 28, Aloha Airlines Flight 243 made headlines worldwide when it landed safely in Hawaii after a large section of its fuselage tore away at cruising altitude, an event that directly led to major changes in aircraft inspection standards.

On the cover

Magazine Covers — May 24, 1988

New York Times
Rolling Stone
Nat. Geographic

World Events — May 1988

Time Person of the Year — 1988

Mikhail Gorbachev
Person of the Year
Mikhail Gorbachev

On the radio

Billboard Charts — May 24, 1988

Anything For You
Gloria Estefan & Miami Sound Machine
Hot 100 #1
"Anything For You"
Gloria Estefan & Miami Sound Machine
Miami Vice
Soundtrack
Billboard 200 #1
"Miami Vice"
Soundtrack

Grammy Awards

Faith
George Michael
Grammy Album of the Year
"Faith"
George Michael
Don't Worry, Be Happy
Bobby McFerrin
Grammy Song of the Year
"Don't Worry, Be Happy"
Bobby McFerrin
Don't Worry, Be Happy
Bobby McFerrin
Grammy Record of the Year
"Don't Worry, Be Happy"
Bobby McFerrin
Tracy Chapman
Grammy Best New Artist
Tracy Chapman

On the bookshelf

The Cardinal of the Kremlin
Tom Clancy
NYT Fiction #1
"The Cardinal of the Kremlin"
Tom Clancy
The 8-Week Cholesterol Cure
Robert Kowalski
NYT Non-Fiction #1
"The 8-Week Cholesterol Cure"
Robert Kowalski
Beloved
Toni Morrison
Pulitzer Prize Fiction
"Beloved"
Toni Morrison
Paris Trout
Pete Dexter
National Book Award Fiction
"Paris Trout"
Pete Dexter
A Bright Shining Lie
Neil Sheehan
National Book Award Nonfiction
"A Bright Shining Lie"
Neil Sheehan

On the television

Nielsen Top 10 — 1987–88 Season

The Cosby Show
Nielsen #1 TV Show
The Cosby Show
Nielsen
Top 10
TV Shows
Nielsen Ratings
Top 10 TV Shows
1987–88 Season

Emmy Winners — 1988

L.A. Law
Emmy Drama Series
L.A. Law
Cheers
Emmy Comedy Series
Cheers
Carroll O'Connor
In the Heat of the Night
Emmy Lead Actor
Carroll O'Connor
In the Heat of the Night
Dana Delany
China Beach
Emmy Lead Actress
Dana Delany
China Beach

At the movies

Box Office & Oscar Winners — May 24, 1988

Willow
Box Office #1
Willow
The Last Emperor
Oscar Best Picture
The Last Emperor
Barry Levinson
Rain Man
Oscar Best Director
Barry Levinson
Rain Man
Dustin Hoffman
Rain Man
Oscar Best Actor
Dustin Hoffman
Rain Man
Jodie Foster
The Accused
Oscar Best Actress
Jodie Foster
The Accused

Ebert 4-Star Films — May 24, 1988

A Fish Called Wanda
4-Star Review
A Fish Called Wanda
Another Woman
4-Star Review
Another Woman
Au revoir les enfants
4-Star Review
Au revoir les enfants
A World Apart
4-Star Review
A World Apart
Dear America: Letters Home From Vietnam
4-Star Review
Dear America: Letters Home From Vietnam

On the field

Sports Champions — May 24, 1988

Super Bowl
Washington Redskins
def. Denver Broncos
World Series
Los Angeles Dodgers
def. Oakland Athletics
NBA Champion
Los Angeles Lakers
def. Detroit Pistons
Stanley Cup
Edmonton Oilers
def. Boston Bruins
Winter Olympics
Calgary, Canada
🥇2🥈1🥉3
Summer Olympics
Seoul, South Korea
🥇36🥈31🥉27

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