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Managing Michigan's crisis is the state's governor, Jennifer M. Granholm. Talking recently with TIME in the parlor of her second-floor office in the state's capitol building, Granholm said that preventing a government shutdown before midnight Wednesday, the end of the state's fiscal year, "is going...

Author: /time Magazine | Title: Michigan and Granholm Face a Budget Deadline | 9/30/2009 | See Source »

Since assuming the governorship in 2003, Granholm has moved to broaden Michigan's industrial base into such areas as energy and robotic technology - an effort that aims to tap into the skills of the state's sizeable population of scientists and engineers. "For 100 years, we've been focused on...

Author: /time Magazine | Title: Michigan and Granholm Face a Budget Deadline | 9/30/2009 | See Source »

HSBC, though, is also responding to the realities of its balance sheet. Its forays West have proved to be, at best, a mixed success, especially its business in the U.S. HSBC dove into the U.S. subprime mortgage and consumer credit market, mainly through its 2003 purchase of consumer finance firm...

Author: /time Magazine | Title: Why HSBC Is Returning to Hong Kong | 9/30/2009 | See Source »

HSBC isn't completely turning its back on the West. Green, the chairman, will remain in London, as will HSBC's official world headquarters. Yet HSBC's return to Asia is still an important signal of where the bank and the world economy believes it will find new growth. "The...

Author: /time Magazine | Title: Why HSBC Is Returning to Hong Kong | 9/30/2009 | See Source »

Brazilian President Luiz Inácio Lula da Silva was 40,000 feet in the air on Sept. 21, en route to the U.N. General Assembly in New York City, when he got the news. Exiled Honduran President Manuel Zelaya, after sneaking back into his Central American country, had shown...

Author: /time Magazine | Title: Brazil Reluctantly Takes Key Role in Honduras Dispute | 9/30/2009 | See Source »

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