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...order. Air India alone accounts for 10% of the total projected losses for the global airline industry this year - even though it carries just 0.35% of global traffic. Air India is suffering from an aging fleet and a bloated staff roster of 31,000 permanent employees and 20,000 contract staff; its labor costs amount to 18% of its total operating expense, the highest ratio in the world, according to Patel. (Read "Altitude Sickness...

Author: /time Magazine | Title: India's Airline Industry Goes From Boom to Bust | 8/12/2009 | See Source »

Next year Da Eun will finish up her contract with our company and take the Korean law school exam. These days she only pretends to go home after work, and instead climbs two floors up to an empty office and studies her thousand-page prep book until 9 or 10 at night. Caroline’s starting her fourth year of a five year bachelors-masters program in Nantes, of which she hasn’t decided her major. (“I’ll figure it out when I get [to registration],” she claims...

Author: By Anita J Joseph | Title: Heart and Seoul | 8/11/2009 | See Source »

...make money? If you sell oil at, say, $66 per barrel, and buy it back at, say, $65 per barrel, you keep the $1 per barrel difference. On one contract, or 1,000 barrels, that comes to $1,000. Not bad for a hard day's work. But take the other side of that trade - buy for $66 and sell for $65 - and you've lost a grand per contract. Remember that on both trades, you're going to pay high transaction fees and commissions, and you'll likely be forced to take a worse price in order to guarantee...

Author: /time Magazine | Title: So You Want to Be an Oil Speculator? | 8/10/2009 | See Source »

...notion that China could drive global growth - would have seemed absurd. After all, China's economy was dependent on manufacturing, which was in turn dependent on demand from the U.S., the world's undisputed economic locomotive. But that engine remains sidetracked. The IMF predicts the U.S. economy will contract 2.6% this year. American home prices continue to fall in some cities, while the unemployment rate has soared to 9.5%, the highest since 1983. The U.S.'s much ballyhooed stimulus plan has so far yielded little measurable benefit, save putting some spark back in stock markets. The absence of real signs...

Author: /time Magazine | Title: Can China Save the World? | 8/10/2009 | See Source »

...where Feinberg will determine pay, the case for intervention is open and shut. They're taxpayer-supported entities, after all. Feinberg does face tough decisions, such as what to do about Andrew J. Hall, head of the moneymaking Phibro energy-trading unit of money-hemorrhaging Citigroup, whose performance-based contract could net him about $100 million this year. One can extrapolate from Feinberg's past performance, though, that the veteran mediator will come up with a decent compromise - that is, one that leaves everyone unhappy...

Author: /time Magazine | Title: Should Executive Pay Be Regulated? | 8/10/2009 | See Source »

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