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...first time since 1970, the United Auto Workers has launched a nationwide strike against General Motors Corp. The labor stoppage, involving more than 73,000 union members, began at 11 a.m. on Monday after GM and the UAW failed to reach an accord on a contract that could potentially lead to sweeping changes in the financing of health care for retired workers...

Author: /time Magazine | Title: The UAW's Surprising Walkout | 9/24/2007 | See Source »

...bought the property for about $1.1 billion, a small stake in Federated's $27 billion business in annual sales. "What we liked about Lord & Taylor was that it had great DNA, a very solid management team and a large amount of spectacular real estate," says Baker. National Realty & Development Corp., the original family business Robert Baker started and continues to own with Richard, is one of the largest, privately held companies, with more than 20 million sq. ft. (1.86 million sq m) of shopping centers and retail properties. As a young boy, Richard would spend weekends with his father driving...

Author: /time Magazine | Title: Studying the Classics | 9/21/2007 | See Source »

...fresh corruption storm cloud is brewing over Arroyo's government. Members of her government have been accused of ramping up the price of a government broadband contract with a Chinese firm, ZTE Corp. The country's Supreme Court has issued a restraining order to keep the deal from going through for now. Opponents have resurrected old, unsatisfactorily resolved scandals as well, including one that involves her election victory in 2004. All this could slow down her government as Arroyo approaches her last two years in office...

Author: /time Magazine | Title: Doing Easy Time in the Philippines | 9/12/2007 | See Source »

...Saddam's dictatorship, international sanctions and bloody conflict. Oil revenues, which are potentially worth $70 billion a year--virtually all of Iraq's export earnings--are desperately needed to rebuild the shattered economy and end its overwhelming dependence on Washington. And oil companies from ExxonMobil to China National Petroleum Corp. are elbowing for position...

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

...Kennedy School of Government, which has sent more than 90 students and faculty to help plan and rebuild, and aid from the philanthropist Walter Shorenstein and Bill Clinton's foundation soon followed. Thus fortified, LaToya Cantrell, president of the association, and Hal Roark, executive director of the Broadmoor Development Corp., helped the community take control of the neighborhood school. They formed a school board and selected Edison Schools, the education company founded by entrepreneur Chris Whittle, to operate a charter school...

Author: /time Magazine | Title: The Greatest Education Lab | 9/6/2007 | See Source »

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