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...safe. But starting in January 2010, the union will become partially responsible for the VEBA, which now oversees and funds retiree health care. The resources devoted to the VEBA have been badly depleted by the bankruptcies at GM and Chrysler, creating doubts about how long they can sustain current benefit levels. The danger is that with thousand of union members retiring early in the past three years, the $21 billion in VEBA assets could be drained before the retirees qualify for Medicare...

Author: /time Magazine | Title: Bob King Picked — Not Elected — To Lead UAW | 12/18/2009 | See Source »

...fecklessness, along with mounting pressure on him to shed the executive powers claimed for the presidency by Musharraf and revert to its traditional, largely ceremonial role. Even within the government there is a slow, grinding power struggle between the President and Prime Minister Yousaf Raza Gilani, who stands to benefit if Zardari recedes into the political background...

Author: /time Magazine | Title: New Zardari Corruption Charges: Bad News for U.S. | 12/18/2009 | See Source »

...price. After Circuit City went out of business earlier this year, you might have thought that Best Buy would use its "last man standing" status to its advantage and hold firm on prices. But other retailers decided they wanted a piece of Circuit City's pie. And to the benefit of holiday shoppers, one of those retailers is Walmart. For example, according to the website TVpredictions.com, Walmart offered a Blu-ray player for $78 on Black Friday, raised the price to more than $100 over the next few weeks and then lowered it back to $78 last Saturday. Best...

Author: /time Magazine | Title: Consumer Electronics Light Up the Holiday Season | 12/15/2009 | See Source »

...side of the Administration's guidelines for lending, and they have many friends on the Hill who can help defuse a movement to punish the banks. Which is why Obama's weapon of choice for now will be trying to shame the banks into better behavior. Which has the benefit of making political sense, as well...

Author: /time Magazine | Title: Obama vs. the Banks: The Pressure Intensifies | 12/13/2009 | See Source »

...match for the diminutive French President Nicolas Sarkozy. On Dec. 8, Sarkozy warned Google he would not allow France to be "stripped" of its literary heritage, an apparent reference to Google's enormous book-digitizing project. "We won't let ourselves be stripped of our heritage to the benefit of a big company, no matter how friendly, big or American it is," Sarkozy said during a round-table discussion in eastern France. "We are not going to be stripped of what generations and generations have produced in the French language, just because we weren't capable of funding...

Author: /time Magazine | Title: Europe vs. Google: The Next Chapter | 12/11/2009 | See Source »

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