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...White House chief of staff modestly recalled Rumsfeld's statement earlier this week to TIME while rushing between pre-Inaugural events. It's fair to say all of Washington is wondering just how Emanuel is going to fare in what has long been the second hardest job in Washington. Emanuel honed his political skills as a top aide to Bill Clinton in the White House, where he was instrumental in shepherding the North American Free Trade Agreement and welfare reform through Congress. After a stint in investment banking in Chicago, Emanuel returned to Washington as an Illinois Congressman, rose quickly...

Author: /time Magazine | Title: An Enforcer Named Emanuel | 1/21/2009 | See Source »

...Plenty of businesses are hurting. And it doesn't help that new media like video games (sales up 19% in 2008!) are now competing with books for our entertainment hours and dollars. But publishing has deeper, more systemic problems, like the fact that its business model evolved during an earlier fiscal era. It's an antique, a financial coelacanth that dates back to the Depression. (See the top 10 video games...

Author: /time Magazine | Title: Books Gone Wild: The Digital Age Reshapes Literature | 1/21/2009 | See Source »

...like to be part of that." Still, despite its more recent success, the Italian company's share price is near an all-time low, and Tuesday's deal may have been an attempt, above all, by Fiat to strut for investors. Fiat shares, which had been suspended earlier Tuesday, rose nearly 4.5% after the deal was announced, only to end the trading day in Milan down 1.3%, to 4.42 euros...

Author: /time Magazine | Title: Fiat to Take 35% Stake in Chrysler | 1/20/2009 | See Source »

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint...

Author: /time Magazine | Title: Obama's Inaugural Address: The Full Text | 1/20/2009 | See Source »

...Europe's largest economy - and since earlier this month the progenitor of Europe's largest stimulus package - Germany has embarked on what has been dubbed "Super Election Year," with 14 electoral contests still to go, including three more state elections, the European election, municipal elections, the election of the German President on May 23, and the federal election on September 27. (See pictures of East Germany making light of its past...

Author: /time Magazine | Title: Merkel Scores Big Win in Regional Election | 1/19/2009 | See Source »

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