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...ethnic divisions. After decades in which Saddam barred Kurds from drilling in the resource-rich north, Kurdish officials suspected that the Shi'ite-dominated government in Baghdad would try to seize control of their resource. So the new law would let regional governments negotiate directly with foreign firms. Each contract would need approval from a new Baghdad-based Federal Oil and Gas Council, in which each ethnic group will be represented. The council has 60 days to challenge a contract and send its objections to arbitration. A separate revenue-sharing law aims to carve up billions of dollars in profits...

Author: /time Magazine | Title: Petro Showdown | 9/6/2007 | See Source »

Hoping to duplicate the electoral success of the Contract with America, Democrats ran on a platform of "Six for '06." As of late summer, two of the items--9/11 reforms and an increase in the minimum wage--had become law, while Bush had vetoed funding for stem-cell research. Proposals to reduce subsidies for oil companies and expand Pell grants remain tied up in conference committees; a bill to fix Medicare's prescription-drug problem has stalled in the Senate. Still, the GOP passed only two of the 11 Contract with America items in its first year back...

Author: /time Magazine | Title: Making The Grade: The Congressional Report Card | 9/6/2007 | See Source »

Percentage of Apple's iTunes video downloads originally from NBC. The network, the site's No. 1 supplier of digital video, will not renew its contract because of pricing disagreements...

Author: /time Magazine | Title: Numbers: Sep. 17, 2007 | 9/6/2007 | See Source »

...Today, many of the firms that would once have been awarded government contracts are working as subcontractors to Guard-owned enterprises. In 2006 alone, Khatam Al-Anbia received a $2.09 billion contract to develop phases of a natural gas field known as South Pars, as well as a $1.2 billion contract to build a line of the Tehran metro, and a $1.3 billion contract to build a pipeline linking Iran to Pakistan...

Author: /time Magazine | Title: Iran's Rich Revolutionary Guard | 9/5/2007 | See Source »

...Were you offended when your ex-publicist explained that your accidental painkiller overdose last year wasn't a suicide attempt by referring to your contract, saying you had "25 million reasons" to live? Patrick Hurley, BUFFALO...

Author: /time Magazine | Title: 10 Questions for Terrell Owens | 8/30/2007 | See Source »

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