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...Clarksons of London, the world's largest shipbroker, announced that new orders had dropped from 378 vessels in October 2007 to just 37 last October. In November, New York?based Genco Shipping and Trading wrote off a $53 million deposit in order to get out of a $530 million deal to buy six new vessels, freeing up liquidity and strengthening the firm's "ability to act opportunistically," a Genco spokesman said. As companies pull back to protect their bottom lines, many are simply taking ships out of service, says Kriton Lendoudis, managing director of Athens-based Evalend Shipping. Hundreds...

Author: /time Magazine | Title: As the World Economy Sinks, So Does Global Shipping | 12/31/2008 | See Source »

Proponents of the program say it makes a lot of sense to give troops specific training for how to deal with disaster response, because inexperienced troops have often been called upon to help out by sending in much-needed supplies. "You really do want people who are trained and thinking about this specific mission," says George Koenig, a former marine who previously served as counsel to the general counsel for the Department of Homeland Security during the immediate aftermath of Hurricane Katrina. "You don't want to pull someone who is training for combat missions." Still, Koenig acknowledges that even...

Author: /time Magazine | Title: Should the Military Be Called in for Natural Disasters? | 12/31/2008 | See Source »

Marlatt uses the acronym SOBER to instruct patients on how to deal with a slip or fight off the urge to do so. The S stands for stop: pause for a moment and consider what you are doing. O means observe: think about what you are sensing, feeling and experiencing, and what events led to the situation. B is for breathe: take a few deep breaths. Then, expand your awareness and remind yourself of what will happen if you keep repeating the unwanted behavior and how you will feel afterward. R stands for respond mindfully: remember that you have...

Author: /time Magazine | Title: Why Falling Off the Wagon Isn't Fatal | 12/30/2008 | See Source »

...North American Free Trade Agreement (NAFTA) has never been without its critics or its champions. Since its inception in 1994, the deal still provides some of America's most reliable debate fodder, from campaign trails to the break rooms of Midwestern factories. NAFTA's fifteenth anniversary this week comes at a tumultuous time: with U.S. unemployment at a 26-year high and many American companies facing grave operational challenges, the controversy over the free-trade pact is not likely to subside anytime soon...

Author: /time Magazine | Title: NAFTA | 12/30/2008 | See Source »

Yusuf had opposed Prime Minister Prime Minister Nur Hassan Hussein's bid to sign a peace deal with some moderate Islamists in June. The President then tried to fire the Prime Minister, a move that was rejected by parliament. Pressure had been building for months for Yusuf to step down, and the infighting between government officials (whose power extends to one town - Baidoa - and a few square feet of Mogadishu) looked like the last straw. "President Abdullahi Yusuf has marginalized large parts of the population and exacerbated divisions," think tank International Crisis Group wrote in a recent report. "The latest...

Author: /time Magazine | Title: In Somalia, a Transitional President Is Out | 12/30/2008 | See Source »

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