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Things won't stay quiet for long, though. For all the challenges of the past couple of years, BA is perhaps yet to face its biggest test of the Walsh era. The airline's shares have plunged by almost a third since February, owing partly to worries that liberalization of the transatlantic market next year will cut into its profits. Under current rules, only BA, Virgin and the U.S. carriers American Airlines and United Airlines can fly to and from the U.S. via Heathrow. For BA, that restricted access has been a gold mine. With the industry in meltdown...

Author: /time Magazine | Title: British Airways: Cabin Pressure | 8/23/2007 | See Source »

...until new Fed Chairman Alan Greenspan restored confidence with reassuring words and piles of cash. Greenspan did the same when credit markets froze after the Russian government defaulted on its debts in 1998. But he was criticized afterward for being perhaps too generous and reassuring and for launching an era of overly easy money...

Author: /time Magazine | Title: Ben Bernanke Walks the Line | 8/23/2007 | See Source »

...During the Big Band era, drummers unobtrusively maintained a song's rhythm. As a founding father of the revolutionary genre of bebop, visionary bandleader Max Roach made percussion a star player. He backed Duke Ellington and Charlie Parker as a teenager, and on seminal recordings ranging from Parker's Ko-Ko to Miles Davis' Birth of the Cool sessions, he created rich, complex, melodic sounds and drove rhythms disturbed by loud bass-drum beats, sudden silences and offbeat riffing. After his hugely successful quintet dissolved in 1956, following the death of his friend and band co-founder, trumpeter Clifford Brown...

Author: /time Magazine | Title: Milestones Sep. 3, 2007 | 8/23/2007 | See Source »

...must, which is why Barack Obama's latest foreign policy offering, regarding how to open doors with Cuba as the Castro era ends, is at least as much about repairing his image for Democrtic voters as it is about reshaping U.S. relations with Havana. Not that it doesn't deserve a careful look in its own right...

Author: /time Magazine | Title: Obama's Foreign Policy Reset | 8/23/2007 | See Source »

...Prime Minister has been at pains to emphasize his commitment to warm relations with the White House, but his popularity in Britain has been boosted by a widespread perception that he's shifted away from the backslapping chumminess of the Blair era. He's now preparing to fight an election, possibly even as early as this fall, to turn that popularity into a fresh political mandate. That means, says Dr. Toby Dodge, an Iraq expert at Queen Mary College, University of London, he'll be "trying to draw a thick black line under the Blair legacy. Of course...

Author: /time Magazine | Title: Britain Shifts Focus to Afghanistan | 8/22/2007 | See Source »

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