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...That, of course, is bad news for the U.S., but it also means the one-two punch of the financial crisis and possible recession could mete out pain around the globe. "Stabilization of the financial markets is a critical first step," said U.S. Fed Chairman Ben Bernanke Wednesday. "But even if they stabilize as we hope they will, broader economic recovery will not happen right away...

Author: /time Magazine | Title: Recession Fears Drive World Markets Starkly Downward | 10/16/2008 | See Source »

...David Hale is an economist and chairman of David Hale Global Economics in Chicago

Author: /time Magazine | Title: Why the Buck Has Pluck | 10/16/2008 | See Source »

...with the cascading effects of the crisis. The mall, Sakura City, opened in late 2006 to much fanfare, and initially housed 60 stores, including the area's only supermarket. Its closure has cost about 400 people their jobs, and effects are rippling out into the community, says Tadayasu Yamamoto, chairman of the Hitachi Chamber of Commerce and Industry. "Shop owners of the nearby shopping arcades are in trouble and so are the consumers," Yamamoto says. "We cannot allow the city's ray of light to be extinguished...

Author: /time Magazine | Title: Now the Real Pain Begins | 10/16/2008 | See Source »

...there was no term called ‘social enterprise,’” Silbert said. “It was called the nonprofit sector. I was considered on the fringe and not a part of mainstream business.”John C. Whitehead, a former co-chairman of investment bank Goldman Sachs, cited the public school system as an area in which nonprofit work could make a difference, saying the government has failed “miserably.”Whitehead called on the panel’s audience members to participate in social enterprise regardless...

Author: By Prateek Kumar, CRIMSON STAFF WRITER | Title: HBS Summit Talks Economy | 10/15/2008 | See Source »

...Asked why Florida Republicans declined to buy ads in black newspapers promoting McCain's candidacy, Jim Greer, the group's chairman, said, "I prefer to look at what really reaches African-American voters, what gets them engaged, and I'm not sure advertising is always the answer. The answer is sitting down to talk with them." Last year, for instance, Florida Republicans held a leadership conference in Orlando that drew some 500 blacks. Nevertheless, Clarence McKee, a co-chair of African-Americans for McCain in Florida, says of his party, "They have to do more to reach out to black...

Author: /time Magazine | Title: Is Obama Doing Enough to Get Out the Black Vote? | 10/15/2008 | See Source »

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