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...urgent. And the growing role that Eastern Europe plays as both a market and a production site for West European companies is fueling a frenzy of acquisitions there. Mergers involving East European firms soared in value by more than 250% this year, with almost 1,700 deals totaling in excess of $100 billion, according to data firm Dealogic. Stephen Barrett, international chairman of the corporate finance practice of consultants KPMG, says the privatization of many firms in the region is the cause of this sharp increase, as well as a surge in dealmaking by Russian energy firms such as Gazprom...

Author: /time Magazine | Title: It's High Time for Mixing Brands | 12/31/2005 | See Source »

...Saraband reunites the main couple, Johan (Erland Josephson) and Marianne (Liv Ullmann), for an icy tri-generational trauma that involves Johan?s widowed son Henrik (B?rje Ahlstedt) and Henrik?s teenage daughter Karin (Julia Dufvenius). The movie asks: How dependent is Henrik on the daughter he loves, perhaps to excess? How dependent is Johan on the son he hates? And how dependent are all of them on their memory of the beloved woman who was Henrik?s wife? Always forcing himself to peel emotions down to the skin, and beneath them, Bergman has created a naked emotional biography...

Author: /time Magazine | Title: Best of 2005: Richard Corliss' Top Films of the Year | 12/17/2005 | See Source »

...Proxmire began awarding a Golden Fleece each month to an example of government excess. Recipients included the Commerce Department for a $28,000 study of the best surfing beaches in Honolulu, and the Economic Development Administration for spending $20,000 to build a replica of the Great Wall of China in Indiana. My favorite fleece-because I did the research for it-was for $6,000 the Army spent funding a 17-page study on how to buy Worcestershire sauce. Prox told reporters that whoever dreamed up that project "must have been on the sauce...

Author: /time Magazine | Title: Senator William Proxmire: A Personal Appreciation | 12/15/2005 | See Source »

Since the time of the Vikings, the British love of getting sozzled has been a source of pride as much as embarrassment--falling somewhere between bland cuisine and stiff upper lips on the list of distinguishing national characteristics. But these days, that excess isn't so endearing as levels of concern about boozing have reached heights not seen since Victorians decried the evils of cheap gin. Unlike most of their Continental counterparts, whose consumption is falling, the British are drinking more than ever--9.6 L of pure alcohol per person last year, which is 42% more than the amount consumed...

Author: /time Magazine | Title: Do Brits Need More Drinking Time? | 12/12/2005 | See Source »

Alcohol experts think the government could be a lot more influential if it had the guts to take on the liquor industry and voters who whinge about the nanny state. Those experts say there's good evidence that what works best to curb excess drinking is higher taxes on alcohol, lowering the number and density of places to buy booze and instituting a robust policy of random breath-alcohol testing for drivers. But across Europe--the hardest-drinking region in the world--almost all governments, including Britain's, prefer responsible-drinking campaigns premised on the idea that trouble flows from...

Author: /time Magazine | Title: Do Brits Need More Drinking Time? | 12/12/2005 | See Source »

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