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...rsson, CEO of Toyota Iceland, says that the depreciated krona raised the price of imported cars by 25% in just a matter of weeks, bringing his booming sales to a standstill. He now predicts year-on-year revenues will end 30% lower. But Steindórsson doesn't blame the government or Iceland's banks. "The crisis didn't start in Iceland - it started in the U.S.," he says. As he sees it, the international dimension of the credit crunch means that Iceland's hands are essentially tied. "We can't move the prices on Wall Street...

Author: /time Magazine | Title: Cracks in the Ice | 5/29/2008 | See Source »

...What's the difference between the anger of adolescent boys and the anger we all feel from time to time? In its essence, not a lot. Anger is made of two components: one is an idea that there's something wrong, two is that someone else is to blame. The difference in adolescence is the struggle behind the anger. The teenager is trying to grasp the responsibilities and freedoms that come with entering the second epoch of life - that between childhood and adulthood. His identity is fragile, and it can be inevitable that anger comes with that...

Author: /time Magazine | Title: Angry Young Men | 5/26/2008 | See Source »

...event set off waves of accusations and recriminations. Convinced that the Sons of Iraq were to blame for lax security, if not for active participation in the plot, Captain Sertani's men fanned out immediately after the blast, roughing up Sons of Iraq members and hauling several into hours of custody. This, Haji Kaadam insisted to the American colonel, was an affront. "If there is an IED or an armed attack, that is our responsibility," he says. "But a lone woman? That is out of our hands. Yet the Iraqi Army came down here and began hitting our people, blaming...

Author: /time Magazine | Title: Keeping the Sunni-Shi'a Peace | 5/26/2008 | See Source »

More than 40 people were killed and thousands left homeless as a wave of anti-immigrant violence swept through the shantytowns around Johannesburg. President Thabo Mbeki was eventually compelled to send troops to quell vengeful mobs that rampaged against migrants from neighboring nations, whom they blame for everything from a rash of robberies to taking away jobs in a nation racked by high unemployment. Despite astoundingly high rates of violent crime in South Africa (mob violence aside, some 52 people are murdered every 24 hours), many Zimbabweans in particular have poured into the country to escape their own nation...

Author: /time Magazine | Title: The World | 5/22/2008 | See Source »

...head-to-head comparison with, say, Apple's online store shows iTunes has far more new releases. A Netflix spokesman said it was adding titles at light speed while negotiating daily with studios, which have their own strategy for dealing with online distribution. So now I know: we can blame Hollywood for delaying video dial tone. Surprise, surprise...

Author: /time Magazine | Title: The Idiot Box Gets Smart | 5/22/2008 | See Source »

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