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...DIED. Kenneth Lay, 64, founder and ex-CEO of Enron, who was convicted in May of fraud and conspiracy in the spectacular 2001 collapse of the mammoth energy company; while free on a $5 million bond as he awaited his October sentencing; of heart disease; in Aspen, Colorado. Born to a poor family in rural Missouri, Lay became a friend to Presidents (George W. Bush famously nicknamed him "Kenny Boy") and a Wall Street darling whose renown grew in step with Enron's soaring stock price. But the emergence in 2001 of the truth about Enron and its scandalous business...

Author: /time Magazine | Title: Milestones | 7/10/2006 | See Source »

...become rampant. Those fears may be coming to pass. Last week's much-watched Tankan business-sentiment survey indicated that Japan's largest companies plan to increase investment at the quickest pace in 16 years. "The Tankan survey showed the economic climate is slightly overheated," says Takeo Okuhara, a bond strategist at Daiwa Institute of Research. "The current financial policy is so accommodative, it's better to pull back soon...

Author: /time Magazine | Title: Japan Takes Flight | 7/10/2006 | See Source »

DIED. Kenneth Lay, 64, founder and ex-CEO of Enron, who was convicted in May of fraud and conspiracy in the spectacular 2001 collapse of the mammoth energy company; while free on a $5 million bond as he awaited his October sentencing; of heart disease; in Aspen, Colo. Born to a poor family in rural Missouri, Lay became a friend to Presidents (George W. Bush famously nicknamed him "Kenny Boy") and a Wall Street darling whose renown grew in step with Enron's soaring stock price. But the emergence in 2001 of the truth about Enron and its scandalous business...

Author: /time Magazine | Title: Milestones Jul. 17, 2006 | 7/9/2006 | See Source »

...what Pentagon officials call "a thin line of defense" that's equal parts James Bond and Rube Goldberg. There are 11 interceptors ready to launch from silos in Alaska and California, cued to their targets by arrays of satellites and shipboard sensors all linked through a Colorado command center. The Pentagon wants 48 interceptors by 2011, including 10 in Europe - the Czech Republic and Poland are likely sites - oriented toward any threat from Iran. While the system generally isn't on full alert - meaning ready to fire its interceptors - Pentagon officials said last week the system had been cranked...

Author: /time Magazine | Title: Can America's Missile Defense Handle North Korea? | 7/3/2006 | See Source »

...19th century colonial governor. But it wasn't until 1996, when Australia's commodity exports began to result in large budget surpluses for the government, that Macquarie's chief executive, Allan Moss, who had joined the bank in the sleepy Hill Samuel days, saw his big chance. "Bond markets were drying up," recalls Gary Turner, a Sydney-based financial-services expert with Bain & Co. "At the same time pension funds, which were growing because of increasing compulsory contributions, had to invest somewhere...

Author: /time Magazine | Title: Eyes on the Prize | 7/2/2006 | See Source »

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