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...fiscal collapse could adversely affect both the nation's economic rebound and, potentially, the Federal Government's credit status. The Republican governor and GOP legislators say they will not raise taxes, especially after Schwarzenegger and six Republican legislators joined a budget deal with Democrats in February that combined deep cuts and $12.8 billion in higher taxes. Now the budget shortfall has spiked again as state tax receipts have dropped 27% from a year ago. Democrats and advocates for programs under the knife will fight the cuts, but neither money nor time are on their side...

Author: /time Magazine | Title: Can the U.S. Afford to Let California Fail? | 6/19/2009 | See Source »

...used to revive Fiat. On June 10, the day Fiat sealed the deal, he announced a thorough organizational revamp. From now on, each of the four individual brands - Chrysler, Jeep, Dodge and Mopar (which makes parts) - will be distinct business units responsible for profit and loss. He also reached deep into the ranks, bypassing the engineers and putting a younger, energetic generation of managers with marketing experience in charge of the brands. "That's a mirror image of what he did at Fiat," says a longtime Fiat executive. Next up: installing Fiat production platforms at Chrysler plants and using Fiat...

Author: /time Magazine | Title: Chrysler's Sergio Marchionne: The Turnaround Artista | 6/18/2009 | See Source »

...Langham Yangtze Boutique now boasts the kind of rooms and public spaces that a tuxedo-clad Noel Coward would have enjoyed lolling about in, gimlet in hand - think period-style furnishings, a lavish deployment of geometric patterns and motifs, and a masculine color palette of chocolate, cream and deep...

Author: /time Magazine | Title: Langham Yangtze Boutique: Scrubbing Up Nicely | 6/17/2009 | See Source »

Peled's proposals aren't likely to be adopted, but they are a sign of the deep anxiety in Israel's right-wing government over the Obama Administration's intention to move quickly toward the creation of a Palestinian state at peace with Israel. Particularly irksome to Netanyahu is Obama's insistence that Israel immediately freeze all construction in settlements in the West Bank and East Jerusalem - territories conquered by Israel in 1967 - that together with Gaza are envisaged as the basis of a Palestinian state. Netanyahu's government has thus far refrained from embracing the two-state formula...

Author: /time Magazine | Title: Can Netanyahu Repair the Rift With the U.S.? | 6/12/2009 | See Source »

...same faculty member said Minow in many ways resembles Kagan when she ascended to the Deanship—exhibiting a disregard for political ideology, an interest in others’ work, and a deep concern for the Law School...

Author: By Elias J. Groll, CRIMSON STAFF WRITER | Title: Martha Minow Named Next Harvard Law School Dean | 6/11/2009 | See Source »

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