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...That won't erase the uneasiness permeating the high-tech park. Some companies are cutting bonuses, which can amount to more than 40% of workers' pay; when reduced work hours are factored in, some employees are suffering pay cuts of up to 50%. And despite efforts to keep staff on payrolls, the number of layoffs at Hsinchu tripled last year, to 4,400, compared with layoffs in 2007. "Everyone's insecure about their future," says a saleswoman at United Microelectronics Corp. (UMC), who requested anonymity. "I came to Hsinchu 10 years ago for the money. Everyone felt this industry...
...government's insurance scheme will play a key role in efforts to prevent that. Under the plan, scheduled to run for at least five years, banks will pay a fee to the government for taking out a policy. Lenders will also shoulder a "first loss" amount - similar to the excess on an auto insurance policy - as well as roughly 10% of the remaining losses. In return for picking up the rest, the government will require banks to sign agreements binding them to increased rates of lending. Just how much risk that exposes the U.K. government to is unclear; the level...
Eventually, the Indian coast guard picked up the surviving refugees and immediately noticed their abject state. The coast guard's report stated that there was a significant amount of water flooding the barge; Indian ships reportedly attempted to search for the 300 missing but were able to rescue only nine refugees from the sea. The survivors have been fed and given medical treatment. They are being housed in relief camps, where they were reached by phone calls from the Arakan Project as well as a reporter from the BBC. The Thai government has yet to return TIME's calls...
...Though he earns $700,000 a year, he's been a beneficiary of a hefty amount of stock: he's sold more than $100 million worth since joining Apple. Despite his wealth, he rents a house in Palo Alto...
...teenagers between the ages of 14 and 17 in Boston. In 2006 there were close to 30,000. The predicted spike in violent crime has become real, but little preparation had been made to meet the challenge. One important political truth which cannot be overemphasized is that no amount of federal, state or municipal intervention can serve as a substitute for effective parenting and adult supervision in the lives of children. Aggressive, targeted law enforcement is necessary but insufficient...