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...smooth concrete floors, diamond white walls and racks of clothing from Icelandic retailer, Nikita. Just a year ago, the same building was being readied for demolition. In its place were plans for an ultramodern shopping mall stretching several blocks across the capital's commercial district. Then came the crash...

Author: /time Magazine | Title: Iceland's Fashion Designers Flourish in the Downturn | 11/14/2009 | See Source »

...many of these young designers are getting more than just attention. "The crash has affected us in a really good way," says Bara Holmgeirsdottir, owner of nearby store Aftur. Her long, sweeping, blond hair brushes the top of her cutting table as she molds a piece of fabric into a dress. "No one is traveling abroad, so you have to shop locally. We have actually doubled our sales...

Author: /time Magazine | Title: Iceland's Fashion Designers Flourish in the Downturn | 11/14/2009 | See Source »

...unique. Down the street the three-month-old Fabelhaft shop has also logged surprisingly high sales. "Opening now has been the best investment for us," says co-owner Dusa Olafsdottir. Inside, tourists and natives mill around bespoke hats and dresses in the boutique's bleached white cube. "Before the crash it was ridiculously expensive on this street, but now you can have your own label and store." (See pictures of expensive things that money...

Author: /time Magazine | Title: Iceland's Fashion Designers Flourish in the Downturn | 11/14/2009 | See Source »

...found water," said Anthony Colaprete, the principal investigator for NASA's Lunar Crater Observation and Sensing Satellite (LCROSS), a mission that culminated in a spectacular crash on the surface of the moon about a month ago. (See a guide to the 40th anniversary of the moon landing...

Author: /time Magazine | Title: Now It's Official: There Is Water on the Moon | 11/13/2009 | See Source »

...thanks to LCROSS, the verdict is finally in. Not only does water exist on the moon, but it has been uncovered by the bucketful - about 24 gallons' worth. It was the intentional crash of the mission - in two separate stages - on Oct. 9 that made the discovery possible. The first piece of LCROSS slammed into the floor of a crater called Cabeus, some 60 miles from the moon's south pole, excavating a hole more than 60 ft. across and sending up a plume of pulverized material about 6 miles wide. Then, about four minutes later, the second part...

Author: /time Magazine | Title: Now It's Official: There Is Water on the Moon | 11/13/2009 | See Source »

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