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...White House--backed arrangement gives Fiat a controlling stake in the embattled 84-year-old company, which will be called Chrysler Group LLC and could serve as a model for the reorganization of larger rival General Motors, which filed for bankruptcy on June 1. The pact--the latest attempt to salvage America's sagging auto industry--creates the world's sixth largest car manufacturer. Analysts expect Chrysler to capitalize on Fiat's strengths by introducing smaller, more economical vehicles over the coming years...

Author: /time Magazine | Title: The World | 6/22/2009 | See Source »

...with the co-pilot and the other seven passengers, though not the pilot - and even learned to walk again. But he never escaped a sense that his life had been broken neatly in two at that moment. In Down Around Midnight, Sabbag seeks out his fellow travelers in an attempt to figure out exactly what happened that night - and what it meant...

Author: /time Magazine | Title: Crash Course | 6/22/2009 | See Source »

Sandoval, like many of California's 39 million residents, is caught up in the pain of the worst recession in 50 years and a state's flailing attempt to balance its books by making brutal cuts in programs long seen as essential. The Sandoval family is but one of more than 154,000 welfare cases in Los Angeles County. Governor Arnold Schwarzenegger says the state should abolish its welfare program. Doing so would save $1.3 billion and rip a large gaping hole in the safety net that now keeps more than 500,000 California families like the Sandovals...

Author: /time Magazine | Title: Can the U.S. Afford to Let California Fail? | 6/19/2009 | See Source »

...data online each day at noon, but only for the previous 24-hour-period. Anyone who checked on the afternoon of June 18 would have seen an air pollution figure that indicated Beijing's skies were "slightly polluted," referring to the 24 hours before. (See pictures of Beijing's attempt to clean...

Author: /time Magazine | Title: Twittering Bad Air Particles in Beijing | 6/19/2009 | See Source »

...harder for Obama, but also easier in some ways. The U.S. President was appropriately cautious after the elections - criticizing the use of violence against the protesters, but not the results of the vote. It seems clear that his Administration will continue to seek negotiations that will, among other things, attempt to increase the transparency of Iran's nuclear program. If the Iranians are smart, they will respond quickly. If they continue to dally, Iran's electoral embarrassment will make it easier for Obama to rally other countries behind a tougher sanctions-and-deterrence plan that will further isolate Iran...

Author: /time Magazine | Title: Joe Klein: What I Saw at the Revolution | 6/18/2009 | See Source »

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