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...Malone's 70-ft. sailboat had snagged an underwater power line. While divers spent two hours cutting the boat free, Smith and Malone had little choice but to continue trying to unsnarl the deal. ''We were lucky we weren't electrocuted,'' says Smith, who carries a blue poker chip in his pocket to remind him to pay attention to blue-chip opportunities. ''But it gave us a chance to keep negotiating and to come up with some good ideas.'' Those notions led to a breathtaking combination that calls for Philadelphia- based Bell Atlantic to acquire Englewood, Colorado-based...

Author: /time Magazine | Title: WIRED! | 7/21/2008 | See Source »

...reasons: as insurance against breakthroughs that the Soviets might come up with in their program and as a hedge against the remote possibility that someone, someday, really does discover a defensive technology that diminishes the advantage of offense. A serious, sustained research program is not a bargaining chip and should not be used as one. However, a research program that is driven by good science rather than high-pressure politics would not hold out false hopes for large-scale population defense; and yet it still could pave the way for a grand compromise by inducing the Soviets to agree...

Author: /time Magazine | Title: GRAND COMPROMISE | 7/21/2008 | See Source »

...funding for SDI, the Administration will have to determine more precisely what role Star Wars will play in the strategic balance. Is it an umbrella against Armageddon, an expensive set of exotic gadgetry to protect missile silos or merely a Buck Rogers fantasy? Could it be the ultimate bargaining chip to exchange for deep reductions in threatening missiles or the catalyst for an arms race beyond the fears of reason? Long before the scientists begin to perfect SDI's technologies, policymakers must grapple with these questions. The answers are essential to the future of arms control, a stable nuclear balance...

Author: /time Magazine | Title: STAR WARS AT THE CROSSROADS | 7/21/2008 | See Source »

...major without going on to win (his only front-of-the-pack victory was at Turnberry in 1986). He will remain one of the sport's great tragic figures, his career marked by bad luck (consider the 1987 Masters, when Larry Mize miraculously holed a 140-foot chip shot in a sudden-death playoff) but also an inner flaw linked to overreaching (see the final round of the 1996 Masters, when a six-stroke lead turned into a five-stroke loss...

Author: /time Magazine | Title: Harrington Beats Norman at Birkdale | 7/20/2008 | See Source »

...insurgents have taken a lot of hits, particularly at the high level ... We've put out several news releases about high-level commanders who have been dealt with, and that affects them. They haven't got an endless supply." He then belittled the Taliban: "They're just trying to chip away. [It's like] teasing your big sister. And they're just out to make life bloody difficult." - With reporting by Ali Safi / Kabul

Author: /time Magazine | Title: New Attack Adds to Afghans' Woes | 7/14/2008 | See Source »

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