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...Bankruptcy law ranks claims against a failed company. Stockholders have the weakest claim - they made a bet on success, got failure instead, so too bad. The strongest claims belong to secured lenders, which are first in line for any proceeds if the company is liquidated. In between lie the unsecured claims. For a carmaker, this creditor class includes suppliers who haven't been paid, car owners whose repairs ought to be covered by warranty, dealers seeking reimbursement for manufacturers' rebates - and the UAW seeking a VEBA payment...

Author: /time Magazine | Title: Government Motors: Can a Reinvention Save GM? | 5/28/2009 | See Source »

...majority of cohabitants either break up or marry within five years, says Alison Hatch, a grad student at the University of Colorado who is doing her dissertation on committed unmarrieds, a demographic to which she and her partner of six years belong. She and Coontz have found that many of them end up marrying because they face the same discrimination as gay couples regarding insurance, taxes and other legal issues. Having kids can also change things. David Letterman didn't say what prompted him in March to wed his partner of 23 years, who is also the mother...

Author: /time Magazine | Title: All but the Ring: Why Some Couples Don't Wed | 5/25/2009 | See Source »

...telling, even to the point that my mother worked there. She worked there for four years as a secretary to the legal office. But I never set foot on campus. We came through, we picked her up, we left. It was sort of like another world that didn't belong to me. I didn't think about college in that sense when I was younger. So it was a very foreign place, even though it was a stone's throw. It had an impact on my life. (Watch TIME's video "Election Day in Chicago's South Side...

Author: /time Magazine | Title: Interview with the First Lady | 5/21/2009 | See Source »

...meet his customers. By contrast Ng sits in Con-Lash's spacious, modern offices on the western edge of Singapore where he presides over a 40-person firm with an annual turnover of roughly $17 million. Apart from the toy models of various clipper ships nearby, his office could belong to a stockbroker or management consultant. Gone are the days when he scrambled aboard ships to haggle over the price of eggs or beer. "I can't remember the last time I was on a ship," Ng says. "It's been years...

Author: /time Magazine | Title: Plunge in Trade Is a Boon for Singapore Ship Suppliers | 5/20/2009 | See Source »

...that she means all those Pakistanis who do not belong to her class and who have as much to do with the Taliban as she does, which is to say nothing at all. But her sweeping wave inadvertently encompasses a part of Pakistan she has failed to address - the Swat valley, where the army has embarked on a campaign to rout out Islamic insurgents who threaten to destroy the Pakistan Haye knows and cherishes. (See pictures of Pakistan beneath the surface...

Author: /time Magazine | Title: How Pakistan Failed Itself | 5/14/2009 | See Source »

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