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...publishing is to some extent a gamble. If political figures really "don't create big books," a number of publishers are soon going to be surprised, sorrowful and even stricken, because the most notable fad in the book business this season has been the wild-eyed flinging of dollar bills in the general direction of Washington. Bantam has paid "about" $1 million to Geraldine Ferraro for Ferraro: My Story, due in October; Simon & Schuster "more or less" $1 million to Jeane Kirkpatrick for her U.N. memoirs; and Random House $1 million to House Speaker Thomas P. ("Tip") O'Neill...

Author: /time Magazine | Title: Books: It's an Emotional Business | 6/21/2005 | See Source »

...offshoots filed for reorganization under Chapter 11 of the Bankruptcy Code. Two other subsidiaries, Deak-Perera U.S. and a foreign commerce bank, Deak National Bank, were not included in the filings. Said the younger Deak: "The damage we have suffered from maliciousness in that report to a very great extent caused the downfall of a very fine firm and the damage to a very fine...

Author: /time Magazine | Title: Fatal Delusions: A shooting on Wall Street | 6/21/2005 | See Source »

While present to some extent in a number of big U.S. cities, the mobile predators are most evident in the Los Angeles area, where police have identified no fewer than 450 gangs with more than 45,000 members. This represents a 25% rise since 1980, fed largely by the city's influx of Asians and Hispanics. Says Kelly Preseley of the Los Angeles Community Youth Gang Services Project: "It's a mobile society, and this is freeway paradise...

Author: /time Magazine | Title: Have Gang, Will Travel | 6/21/2005 | See Source »

...course, to say that China is both an economic partner and a rival is no revelation. There has been so much talk, for so many years, about the potential of China's "opening up" to the West. Still, the extent of its rise somehow managed to sneak up on the U.S. "You have an emergent power and a dominant power," says Richard Haass, president of the Council on Foreign Relations and former director of policy planning at the State Department. "The question is, Will we inevitably be enemies? No, it's not inevitable." The goal for Washington is to manage...

Author: /time Magazine | Title: Small World, Big Stakes | 6/20/2005 | See Source »

...worth $185 billion. Yet for all the ubiquity of Chinese products in U.S. stores, to most Americans China remains a mystery. For both nations, that is unfortunate; though it does not have to, a mystery can all too easily metamorphose into a threat. Most Americans don't realize the extent to which China's future and that of the U.S. are linked. It isn't just down vests--or toys or shoes--that bind the U.S. and China together. China holds billions of dollars of U.S. debt; its companies increasingly compete with U.S. ones for vital resources like...

Author: /time Magazine | Title: Small World, Big Stakes | 6/20/2005 | See Source »

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