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...tiered program, with extra restrictions applied to basket cases like AIG, Citigroup and Bank of America, all of which tapped the federal till for hundreds of billions of dollars to recapitalize their broken balance sheets. In addition to the cash limit, the "maximum wage" plan allows companies to reward "senior management" - a complement of no fixed definition - with restricted stock, but it can only be cashed in after the government is paid back. There are also prohibitions against golden parachutes as well as a clawback provision - the company may reclaim that stock if its results subsequently tank - that can extend...

Author: /time Magazine | Title: Can Obama's Executive-Pay Limits Tame Wall Street? | 2/4/2009 | See Source »

...Israel had overinflated the Hamas threat. The militants are able to lob dozens of crude, badly aimed rockets into southern Israel, but that may be the limit of their abilities. And Israeli officials are congratulating themselves on their tactics. "Hamas and [Lebanon's] Hizballah are worried that Israel has broken the DNA code of urban fighting," says reserve Brigadier General Shalom Harari, while cautioning that Hamas' military leaders are probably already at work planning ways to block the Israeli military's next assault if fighting in Gaza breaks out again, as it undoubtedly will...

Author: /time Magazine | Title: Israel and Hamas Prepare for the Next Gaza War | 2/4/2009 | See Source »

...Richie Valens, whose single "Donna" was about to go gold. Between sets, Holly solicited people to join him on the charter airplane he'd hired to fly to the next show in Moorhead, Minnesota. The musicians had been traveling by bus for over a week and it had already broken down once. They were tired, they hadn't been paid yet and all of their clothes were dirty. With the airplane, Holly could arrive early, do everyone's laundry and catch up on some rest...

Author: /time Magazine | Title: The Day the Music Died | 2/3/2009 | See Source »

...protectionism as competition for export markets becomes cutthroat. There will be "much more introspection, especially in emerging markets, about joining the party with as much gusto as in the past," Walker says. "There is going to be a lot of questioning about capital market opening. The old model is broken and they don't know what to replace it with...

Author: /time Magazine | Title: Pundit: China's Economic Growth Could Stop | 2/3/2009 | See Source »

...Crimson comes into the game riding a four-game win streak, its longest of the season. After struggling to find its offensive groove early in the season, Harvard has broken out with 16 goals in the last four games...

Author: By Kate Leist, CRIMSON STAFF WRITER | Title: Harvard Seeks Bragging Rights in Beanpot | 2/3/2009 | See Source »

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