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...famously isolated, self-important organization whose members do not like to be slighted. Competition for hosting rights is fierce: a city needs a majority of the 107 members to vote in its favor to win. One ballot can tip the balance, and this new dustup could alter a member's decision. "This is an absolutely unnecessary self-inflicted wound," says Marc Ganis, a Chicago-based sports-business consultant who has closely followed the 2016 bid. "It just serves to remind the IOC of their preconceived notion that the Americans are arrogant and self-serving...
...possible way out, diplomats close to the Honduran talks tell TIME, is to move up the nation's November presidential election and January inauguration. Zelaya could return to power, but only on the condition that he not try to alter the constitution, especially its ban on presidential re-election. The Honduran crisis was sparked when Zelaya made noises about giving presidents a second term - a sign to many Hondurans that he wanted to take them down the path of his left-wing allies, like Venezuelan President Hugo Chávez, who recently won a referendum that allows indefinite re-election...
Proposition 13 was the brainchild of the late Howard Jarvis. The antitax crusader was a policy genius not unlike Franklin D. Roosevelt. Both shared an affinity for designing deep structural change that, once embedded in the political system, is nearly impossible to alter without a massive change of heart by voters. Social Security is the lasting legacy of the New Deal era because F.D.R. understood that workers who contribute payroll-tax deductions from their paychecks would not want politicians tinkering with their retirement dollars. Conservatives have mounted assaults on Social Security through the years but to no avail...
...Late last week Cooperman laid out his views to a packed room of securities analysts and hedge-fund managers in Manhattan. He noted the power of big federal spending and expressed concern that Washington's largesse, if unchecked, would fundamentally alter America's competitiveness. But he also made clear his view that the latest rounds of federal spending have averted crisis and set the stage for a shallow economic recovery with modest inflation. Longer term, he believes the U.S. will be growing at only 1.5% to 2% a year, well below the historical growth rate of 3%, a shortfall resulting...
...Dubai's unofficial creative district bear little resemblance to the emirate's legendary multibillion-dollar skyline. But in just three years, around 30 galleries and cultural institutions have set up shop in this dusty neighborhood. In the process, they have helped inspire private and governmental initiatives designed to alter the perception that Dubai is nothing but a characterless, globalized marketplace of vulgar shopping malls and exploited workers...