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...industries in which they compete. As AIG has pointed out in its own analysis, "The extent and interconnectedness of AIG's business is far-reaching and encompasses customers across the globe ranging from governmental agencies, corporations and consumers to counterparties. A failure of AIG could create a chain reaction of enormous proportion." Among other effects, it could lead to mass redemptions of insurance policies, which would theoretically destabilize the industry; the withdrawal of $12 billion to $15 billion in U.S. consumer lending in a credit-short universe; and even damage airframe maker Boeing and jet-engine maker GE, since...

Author: /time Magazine | Title: How AIG Became Too Big to Fail | 3/19/2009 | See Source »

...Burmese presence. Army persecution of Burma's diverse tribes has festered for decades, and the proliferation of junta-controlled mines and concessions in the minority regions only exacerbates the tensions. Hundreds of thousands of ethnic villagers have been forced to relocate or have been conscripted into chain gangs, according to human-rights groups like Amnesty International and Human Rights Watch. Even when operations begin, paid jobs land disproportionately in the hands of ethnic Burmese migrants, not those of local minorities. A new report by the Geneva-based International Displacement Monitoring Center estimates that in eastern Burma alone nearly half...

Author: /time Magazine | Title: The Scramble For A Piece of Burma | 3/19/2009 | See Source »

...That kind of change has been good for Marks & Spencer. In 2007 the British food and clothing chain launched an in-house environmental campaign called Plan A - "because there is no Plan B for the planet," explains Mark Barry, the company's sustainable-development manager. Scrapping traditional charitable donations, Marks & Spencer budgeted $215 million for a five-year program that included cutting the company's fuel and electricity use, charging customers for plastic bags and sourcing merchandise from green factories and farms. Barry says Plan A is so far paying for itself because it has lowered the company's energy...

Author: /time Magazine | Title: Charity Crunch Time | 3/19/2009 | See Source »

...evidence to support Mohamed’s torture allegations is fairly damning, and it goes without saying that any civilized country should strictly adhere to Obama’s rhetoric and reject such barbaric treatment. Mohamed claims that the CIA would chain him in restrictive positions and that he was once shackled for eight days in a position where it was impossible to either stand straight or sit. He also allegedly spent five months in total darkness and one month straight when he was forced to continually listen to one repeated Eminem CD played at an ear-splitting volume...

Author: By Olivia M. Goldhill | Title: Between Our Safety and Our Ideals | 3/19/2009 | See Source »

...Treasury Department official says the fault appears to lie with career staffers at the department who failed to report the imminent bonus deadline up the chain to Geithner. This failure may be a by-product of the difficulty Geithner has had staffing up at Treasury. But he still has personal vulnerability on the issue. It was Geithner, as head of the New York Federal Reserve, who negotiated the AIG bailout last September. At that time, he could have sought to get bonuses repealed as part of the massive government loan...

Author: /time Magazine | Title: Treasury Learned of AIG Bonuses Earlier Than Claimed | 3/18/2009 | See Source »

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