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...conference's website, ad hoc bed-and-breakfast accommodations. Thus was born AirBnB.com They made $1,000 that week and were shocked to find that their customers weren't teenage slackers but were instead older folks, including a 45-year-old father of three. Said Gebbia: "It completely blew away our assumptions...

Author: /time Magazine | Title: The New Internet Start-Up Boom: Get Rich Slow | 4/9/2009 | See Source »

...first visit since Washington announced its new strategy for the region. The morning before, 22 people were killed by a suicide bomber outside a mosque in Chakwal, a Punjabi town known for its links to the army. And on Saturday night, six paramilitary soldiers died after a suicide bomber blew himself up in the heart of Islamabad. (See pictures from Pakistan's dangerous frontier with Afghanistan...

Author: /time Magazine | Title: In the War Against Militants, U.S. and Pakistan Remain at Odds | 4/8/2009 | See Source »

...toll is expected to rise, as bodies still need to be recovered from inside the building. More than 400 trainees are believed to have been present at the time of the attack. Authorities say they have one of the attackers in custody, while four have been killed. Two others blew themselves up to evade capture...

Author: /time Magazine | Title: Pakistan Attack Raises Fears of Spreading Terrorism | 3/30/2009 | See Source »

...state grants, work-study earnings and federal loans, the average financial-aid applicant will pocket $28,000 in Skidmore grants. Skidmore, like many of its peer schools, also allocates funding for superstars with financial need, a practice known as "preferential packaging." The most desirable students--the ones who blew the lid off the SAT, for instance, or those who will be the first in their family to go to college--get a nice surprise in their aid awards: fewer loans, more grants. "Just like an airplane," explains Barmak Nassirian, associate executive director of the American Association of Collegiate Registrars...

Author: /time Magazine | Title: Colleges Face a Financial-Aid Crunch | 3/26/2009 | See Source »

...Last year AIG admitted that the company's Financial Products division entered into credit default swap agreements with banks that bought and securitized loans. CDS are a financial instrument that mimics the characteristics of an insurance contract. These instruments were most exposed to risk when the securitization market blew up following the housing market collapse. Not only is the company almost entirely owned by the government, but many of the executives receiving the bonuses are the same executives that marketed the CDS agreements that caused its downfall. (Read "Treasury Learned of AIG Bonuses Earlier Than Claimed...

Author: /time Magazine | Title: Why the People Who Broke the Financial System Will Profit | 3/25/2009 | See Source »

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