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But Las Vegas, in doubling down on the travel sector, had not diversified its economy. As the visitor rate dropped 10% in October, average daily room rates fell 14% and gaming revenue dove 26%. The hotel-casino downturn sent ripples across the city that turned into a tsunami. "In our...

Author: /time Magazine | Title: Behind Vegas's Bad Bet | 12/29/2008 | See Source »

This is dire news for the tourism industry which employs 53 million people directly or indirectly. It is also a complete about-face for the hotels sector which was enjoying positive forecasts until just months back. In the last few years, while the economy was projected to grow at 8...

Author: /time Magazine | Title: After Mumbai, India's Hotels Brace for a Sharp Downturn | 12/20/2008 | See Source »

Today, Wang, who has chosen a Western name, Colleen, works in a gleaming office tower in the manufacturing center of Guangzhou in southern China. At age 37, she is the very image of a polished chief executive officer, right down to her Milano briefcase. Wang is the founder of an...

Author: /time Magazine | Title: Wanted: A New Miracle | 12/11/2008 | See Source »

History may come full circle, fittingly and bittersweetly, if, during his confirmation hearings, Shinseki says his new agency needs far more personnel than the 240,000 it currently employs to tend to the human carnage.

Author: /time Magazine | Title: Shinseki, a Prescient General, Re-Enlists as VA Chief | 12/8/2008 | See Source »

On Wednesday, the three officials met in Craig's downtown Washington law office with more than a dozen retired generals and admirals who advocate abolishing any interrogation method that employs tactics that the U.S. would not want used by an enemy on American citizens, a principle known as the "Golden...

Author: /time Magazine | Title: Rollback on Torture? Not So Easy for Obama | 12/5/2008 | See Source »

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