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...headquarters to mass-produce the Reva hatchback, a two-passenger city car priced at little over $12,000 that the company has been selling in India and Europe since 2001. When production begins next January, the new factory will be the world's largest for low-cost electric cars; annual capacity is expected to hit 30,000 cars within three years. "The opportunity today is very high," says Chetan Maini, Reva's vice chairman and chief technology officer. (See pictures of the world's cheapest...
...third of his savings since the recession began and doesn't want to sideline his kid while waiting for the market to come back. His son Tyler will start at ACC this fall and, as long as he lives at home, will save the family about 90% of the annual tab at a four-year residential college. "He can get his basic core courses out of the way at ACC and then do his focus for his major at a four-year institution," Anderson says. (See pictures of a college for Native Americans...
...wrong. Dozens of states have found themselves with budget shortfalls, some quite massive, partly because economists weren't ratcheting down expectations of tax revenue nearly fast enough. In late November, the Federal Reserve Bank of Philadelphia's Survey of Professional Forecasters indicated GDP would decline at an annual pace of 1.1% for the first three months of 2009. The economy proceeded to shrink at a pace of 5.5%. (See what to expect when the recession ends...
...reimburse the Dutch and British who had accounts with Icesave, the internet arm of the now-defunct Landsbanki, which collapsed last October. The deal was a condition of the IMF bailout, and Iceland has 15 years to pay it back. But the sums total almost half the country's annual output and could jeopardize any recovery...
...leads to detours off it, like to Somerset, a village accessible only by the smallest working drawbridge in the world. The short bridge has an 18-inch gap covered by a plank, which is removed to allow unsailed masts to go through. Somerset is also the site of the annual summer Non Mariners' Race, in which entrants build absurdly unseaworthy craft to lose the nonrace "in the most astonishing fashion...