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...number of homeowners headed toward foreclosure is rising so quickly that "you need somebody to project what the projections will be - because they're just changing so fast," said Lindley Higgins, the applied-research manager at NeighborWorks America, an urban revitalization project created by Congress. A decade ago, Higgins said, 400,000 foreclosures nationwide was a busy year. America may see 2.5 million...

Author: /time Magazine | Title: House of Cards: The Faces Behind Foreclosures | 2/27/2009 | See Source »

...Once booming businesses are resorting to desperate discounting to try to keep customers coming. In Hong Kong, 1,000 restaurants have joined together to offer dishes such as dim sum and roast pigeon for one Hong Kong dollar (about 13 cents). In Taipei, Taiwan's capital, fast-food chain KFC held a press conference last month to announce 50% discounts on every second meal ordered, only to have McDonald's employees interrupt by parading with signs promoting $2 lunch specials...

Author: /time Magazine | Title: Losing Traction | 2/26/2009 | See Source »

...high proportion of Taiwan's trade with China, for example, has been made up of electronic components shipped to Chinese factories for assembly into finished products - which eventually wound up on the shelves of stores in the U.S. As a result, Taiwan's China trade is contracting twice as fast as the island's U.S. exports...

Author: /time Magazine | Title: Losing Traction | 2/26/2009 | See Source »

...interesting thing about this live recording. You can hear it, actually, where the audience is following me. So I can open it up more rather than play songs that they know from the radio, which is something I usually do when I want to get offstage very fast...

Author: /time Magazine | Title: 10 Questions for Van Morrison | 2/26/2009 | See Source »

...Fast Facts...

Author: /time Magazine | Title: New York Archbishop Timothy Dolan | 2/26/2009 | See Source »

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