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...Countrywide over the subprime cliff, but he also constructed a formidable mortgage machine - 1,000 offices in 49 states responsible for 9 million loans worth about $1.5 trillion. Lewis had to figure out whether acquiring it would be worth the legal heartburn, including a shareholders' lawsuit accusing Countrywide's board of improperly helping company executives buy stock. (The Securities and Exchange Commission is investigating Mozilo's trading activity in Countrywide stock.) In California, some borrowers allege that Countrywide lenders steered them into subprime loans even though they could have qualified for better terms. And the city of Cleveland is suing...

Author: /time Magazine | Title: The Savior of Countrywide? | 1/17/2008 | See Source »

...well, perhaps more than policymakers realize. For example, productivity in Chinese companies is soaring, enabling manufacturers to absorb cost increases without cutting employment. Indeed, high productivity growth is a more important factor than the exchange rate or government subsidies in explaining China's international competitiveness. Researchers for the Conference Board in New York City recently calculated average annual productivity growth in China's manufacturing sector at an astonishing 20.4% from 1995 through 2003. That's almost six times faster than productivity growth in Europe...

Author: /time Magazine | Title: Finding the Right Balance | 1/17/2008 | See Source »

...ourselves would have quit trying if the bet didn't pay off sometimes. The eventual goal of any couple is to pass beyond serial dating--beyond even the thrill of early love--and into what's known as companionate love. That's the coffee-and-Sunday-paper phase, the board-games-when-it's-raining phase, and the fact is, there's not a lick of excitement about it. But that, for better or worse, is adaptive too. If partners are going to stay together for the years of care that children require, they need a love that bonds them...

Author: /time Magazine | Title: The Science of Romance: Why We Love | 1/17/2008 | See Source »

...friendly shower-heads for everyone! CON: Eco-friendly shower-heads for everyone! Mike Gravel (Senator from Alaska) PRO: Tells teens to do drugs. CON: Will not get elected. Republicans Mitt Romney (Governor of Massachusetts) PRO: If all Mormons are like Napolean Dynamite, we’re on board. CON: Least fun Mormon ever: upholds anti-alcohol position, renounces kinky potential of polygamy. Mike Huckabee (Governor of Arkansas) PRO: Endorsed by Chuck Norris’s Right Leg. CON: Chuck Norris would never write a book called “Quit Digging Your Grave with a Knife and Fork...

Author: By Kirsten E.M. Slungaard, CONTRIBUTING WRITER | Title: Everyone Smells Like Geritol. Except Barack Obama; Barack Obama Smells Like Oprah. | 1/17/2008 | See Source »

Kenya's peak season for tourism is between December and February. The Kenya Tourist Board estimates that $75 million will be lost in revenue for January and another $90 million in February. Mutie says that most of his beach colleagues have returned home in northeastern Kenya to take up farming. "Mombasa people are starving," says curio seller Elias Gitonga. He sits on a carved ebony stool surrounded by miniature carvings of elephants and giraffes. "We couldn't imagine all the tourists going away and us being left alone...

Author: /time Magazine | Title: Where Have All the Tourists Gone? | 1/16/2008 | See Source »

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