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...What They're Drinking in Russia: Russians have had a taste for vodka since the Czars, but consumers are cutting back amid the global financial crunch. Even though manufacturers slashed vodka production 15% because of slumping demand, stores are saddled with some 22 million gallons of unsold spirits--six times their inventory of a year ago, according to an industry group. Meanwhile, alcohol-poisoning fatalities are on the rise, reportedly as drinkers turn to cheap, homemade liquor instead...

Author: /time Magazine | Title: The World | 11/26/2008 | See Source »

...Poor's lowered its corporate credit rating of Dillard's to B+ from BB-, citing the "deepening spending pull-back by consumers." Adding to the drama, hedge-fund investors Barington Capital Group LP and Clinton Group Inc. called for William Dillard II, the chain's CEO, to step down amid declining revenue and a stock price that has lost more than 70% of its value. The good news: "They aren't leveraged like other stores are," says Beemer. "But if you look at mall-based apparel stores, any of them could be in trouble except for Victoria's Secret, which...

Author: /time Magazine | Title: For Retailers, 'Tis the Season to Be Nervous | 11/25/2008 | See Source »

...banner of the Iraqi Tribal Front, and will field candidates in several provinces. So after the compound has filled up, the chanting turns distinctly political. "We are with Nouri al-Maliki on SOFA," they shout, referring to the status of forces agreement that the Iraqi Prime Minister has signed, amid considerable domestic opposition, with...

Author: /time Magazine | Title: In Anbar Province, Iraq's Sheiks Discover Democracy | 11/25/2008 | See Source »

Manuel Rosales, who captured the Maracaibo mayoral post amid threats by Chávez to have him arrested for allegedly plotting the President's assassination (a charge Chávez often hurls against his critics), said, "The map of Venezuela has started to change." Maybe. But Chávez and the opposition did make Venezuela seem a bit less angrily polarized. Caracas mayor-elect Antonio Ledezma reached out to work with Chavez - a gesture that would make any reported attempts by Chávez to cut off budget resources to opposition victors look petty...

Author: /time Magazine | Title: Chávez: A Mixed Victory in Venezuela Elections | 11/24/2008 | See Source »

...Amid their self-congratulatory celebrations of the past few weeks, it's easy to forget that Democrats were in a state of absolute despair not so long ago. At the dawn of 2003, the House, the Senate and the White House lay in Republican hands, while the Supreme Court threatened to tilt further to the right. Rep. Tom Delay, then the Republican majority leader, was overheard calling out, while smoking a cigar in a government building, "I am the federal government...

Author: /time Magazine | Title: Inside Obama's Idea Factory in Washington | 11/21/2008 | See Source »

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