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...never earned more than $80,000 in a single year. Yet we have already paid for two homes. I am angry about giving money to irresponsible individuals who borrowed far more than they could repay. They have driven home prices to historic levels by creating what amounts to artificial demand. We played by the rules: we paid our mortagages off. Some 25% of subprime housing borrowers did not. So who gets punished? People like my wife and me. Colin Buckley, Albuquerque, New Mexico...

Author: /time Magazine | Title: Inbox | 10/9/2008 | See Source »

...spinning off its 15 million cable subscribers. Since its failed bid for the Walt Disney Co. in 2004, Comcast has returned to its roots as a program distributor, smartly upgrading its cable systems so it can offer hundreds of digital channels as well as high-def TV, video on demand, and broadband and telephone service. The company is also shelling out $1 billion--along with other companies like Time Warner Cable, Google and Intel--to fund a wireless Internet venture formed by Sprint Nextel Corp. and Clearwire Corp...

Author: /time Magazine | Title: Comcast's Challenge | 10/9/2008 | See Source »

Pittsburgh is certainly not going to escape a national recession. But it can provide lessons for how to survive it: invest in knowledge, compete globally, rewrite the old rules of business. A couple of its signature companies, such as Alcoa, have announced cutbacks as demand slows. "No area is totally immune, but it is going to be, if we are right, a bit more modest in Pittsburgh," says Stuart Hoffman, PNC's chief economist. From ground level, Bob Intrieri can see the same thing. A partner at Allegheny Steel Products, he sells industrial innards to the machine shops and factories...

Author: /time Magazine | Title: Finding One Economic Bright Spot on Main Street | 10/9/2008 | See Source »

Supermarkets are struggling to meet consumer demand for bananas as a fad diet sweeps the country. The popularity of the scheme, which prescribes a banana and a glass of warm water every morning, has been fed by online social networks, a best-selling book called Morning Banana Diet and celebrity testimonials. Leading banana importer Dole Japan reported that sales of the fruit are up 25% since the same period last year. Yet despite the empty shelves and rising prices, nutrition experts have been skeptical, saying bananas do not directly trigger weight loss...

Author: /time Magazine | Title: The World | 10/9/2008 | See Source »

...local entry. Originally created as a four-and-a-half minute animation, Yee’s adaptation of a Zen short story lent itself to the short form. “The thing about Zen short stories is that they are so concise in and of themselves that they demand the filmmaker to be concise,” Yee says. With a total audience of about 500, the attendance at the festival met organizers’ expectations, and Lumen Eclipse hopes that the festival will be the first of many. “I think the best part was just...

Author: By Rebecca J. Levitan, CONTRIBUTING WRITER | Title: 1 Min. Film Fest Worth the Time | 10/9/2008 | See Source »

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