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But the derby ultimately rewards fearlessness. Andrew Dougherty paid $100 for his Oldsmobile Delta 88, which got double-teamed by two Chrysler Imperials in the Delaware County finals. Yet he never gave up - even after his trunk was flattened into the backseat - and was awarded the coveted Best in Show...

Author: /time Magazine | Title: Crash For Clunkers: Demolition Derbies Hard Up for Cars | 9/3/2009 | See Source »

The warnings, echoed by prominent economists, were heeded. At the London summit, the rich nations, wrangled by U.S. Treasury Secretary Tim Geithner, decided to triple the IMF's resources to $750 billion. After nearly a decade on the sidelines, it was suddenly a player again. "The IMF is back," crowed...

Author: /time Magazine | Title: Boutros-Ghali's Developing Vision for the IMF | 5/25/2009 | See Source »

Nixon was the first U.S. president to visit the Asian nation and the jaunt, which came smack in the midst of the Cold War, was a huge boon for the President's public image. The trip ended with the Shanghai Communique, a joint statement from China and the U.S. that...

Author: /time Magazine | Title: Presidents Abroad | 3/31/2009 | See Source »

Amid the gruesome news generated by the world's auto industry these days, this bit of information almost reads like a typo: new car registrations in Germany rose 21% year on year in February, the country's Association of the Automotive Industry (VDA) announced on March 3. This, though, was...

Author: /time Magazine | Title: Germany's Auto-Woes Fix: Scrap That Clunker! | 3/12/2009 | See Source »

Then there's oil. In 2007 and '08, state-controlled Petrobras discovered up to 12 billion bbl. beneath the Atlantic floor about 155 miles (250 km) off the coast of Rio de Janeiro. The oil lies almost 3 miles (5 km) below sea level and is covered by a thick...

Author: /time Magazine | Title: The One Country That Might Avoid Recession Is... | 3/5/2009 | See Source »

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