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...details of the Federal Government's $3 billion cash-for-clunkers program were criticized for being too complicated, and the U.S. Department of Transportation's computers were maddeningly slow to produce the necessary approvals. But the program also gave dealers and consumers a huge shot...

Author: /time Magazine | Title: Was Cash for Clunkers a Success? | 8/26/2009 | See Source »

...need for stricter control of the Puer industry became clear two years ago, when the Puer market went on a destabilizing roller-coaster ride. Some Chinese buy tea as an investment, much like Europeans buy wines. In the early part of the decade, thousands of cash-rich urbanites poured their savings into the Puer, causing prices to double, then triple. "People were buying anything," says David Lee Hoffman, a California collector. By 2007, the finest aged Puer was - quite literally - worth its weight in gold. As demand soared, however, quality suffered, fakes flooded the market and prices fell...

Author: /time Magazine | Title: Puer Tea: China's Next Hot Commodity? | 8/25/2009 | See Source »

...blog, found on the McDonald's Japan website, Mr. James describes himself as a 43-year-old Japanophile born in Ohio with a penchant for travel, who, when particularly excited, generously treats people he doesn't even know. (That seems to be a plug for the $1,000 cash prizes for 1,000 people who submit photos of Mr. James or people imitating Mr. James...

Author: /time Magazine | Title: Not Everyone Is Lovin' Japan's New McDonald's Mascot | 8/25/2009 | See Source »

...This time, I'm saving it for retirement.' EDWARD WILLIAMS, after winning a $900,000 jackpot in the Kansas Super Cash lottery on Aug. 5; last September, the 47-year-old Wichita, Kans., native won $75,000 after buying a $10 scratch ticket...

Author: /time Magazine | Title: Verbatim | 8/24/2009 | See Source »

...What They're Suspending in the U.S.: Strapped for cash, Florida, Massachusetts and Maryland eliminated their annual sales-tax holidays--periods in August when customers can buy items like clothing and school supplies tax-free. While critics argue that the consumer savings would have stimulated the economy, the states say their ailing budgets desperately need to retain the millions in tax revenue...

Author: /time Magazine | Title: The World | 8/24/2009 | See Source »

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