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...Around the same time, Occidental was having problems. In the late 1960s the company bought Hooker Chemical Co. in a effort to diversify. But in the 1970s, allegations surfaced that toxic waste that Hooker dumped into the ground during the 1940s and early '50s was causing severe health problems in Niagara's Love Canal neighborhood. Oxy Pete needed cash to shore up this and other problems, and its CEO, Armand Hammer - flamboyant, powerful and ultimately corrupt - came up with a solution: raid the retirement kitty. Amazingly, this was legal at the time, and Hammer wasn't alone in doing...

Author: /time Magazine | Title: Why It's Time to Retire the 401(k) | 10/9/2009 | See Source »

...high school seniors wade through the college admissions process, some schools are updating their applications in a stated effort to both humanize the process and to gain more informative responses from applicants. A roundup of recent changes...

Author: By Jillian K. Kushner, CRIMSON STAFF WRITER | Title: Colleges Alter Application Processes | 10/9/2009 | See Source »

...that last effort is the only one that has produced lasting, tangible results. Last month at the U.N., after months of negotiation, the Security Council approved a resolution reinvigorating the compact between the nuclear and nonnuclear powers that aims for an eventual full elimination of nuclear weapons, an end to nuclear tests and a ban of the production of fissile material. The resolution is an overlooked part of what has allowed Obama to make tentative progress in trying to curtail Iran's nuclear program and is, the Administration says, its best hope for doing the same with North Korea...

Author: /time Magazine | Title: Why the Prize Is Premature | 10/9/2009 | See Source »

...Nobel is Obama's for effort only, at best. The Arab-Israeli peace process is in disarray: after eight months of concerted effort by the U.S., talks have yet to begin, as both sides are stuck on whether Israel will freeze its expansion settlements in occupied Palestinian territory (so far, it has said it won't). Relations with the Muslim world have improved, at least by the measure of international poll numbers, but they have not advanced peace (or American interests) yet: Arab states are still resisting recognizing Israel, contributing to the problems besetting peace talks there. (See pictures...

Author: /time Magazine | Title: Why the Prize Is Premature | 10/9/2009 | See Source »

...been a force in Democratic campaigns since the late 1980s and helmed Obama's rapid-response operation during his run. At the White House, she has become a devoted consumer of conservative-media reports and a fierce critic of Fox News, leading the Administration's effort to block officials, including Obama, from appearing on the network. "It's opinion journalism masquerading as news," Dunn says. "They are boosting their audience. But that doesn't mean we are going to sit back." Fox News's head of news, Michael Clemente, counters that the White House criticism unfairly conflates the network...

Author: /time Magazine | Title: Calling 'Em Out: The White House Takes on the Press | 10/8/2009 | See Source »

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