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...that goes: Why does the Yugo have a rear-window defroster? So you can keep your hands warm while you push it. These aren't jokes I had a hard time collecting. They're everywhere. But with a lot of these jokes, you could simply [substitute] Pinto or Fiat. There's something about cars that we love to goof on. People love driving high-status cars and love goofing on low-status cars. It shows you the centrality of the automobile in our culture. It is a powerful, powerful object.(See the most important cars of all time...

Author: /time Magazine | Title: The Yugo: Worst Car Ever? | 3/16/2010 | See Source »

That didn't stop car manufacturers like Toyota and BMW from pulling out of the sport anyway (Honda had quit at the end of 2008.) That leaves only three major carmakers - Ferrari (owned by Fiat), Mercedes-Benz and Renault (though the latter recently sold a majority stake in the racing team to Luxembourg investment firm Genii Capital) - still in F1. "The sport just wasn't delivering the value," says John Howett, head of Toyota Motor Sports. For the new season, some of the old names have been replaced by entrepreneurs with more dash than cash. Ecclestone calls the new teams...

Author: /time Magazine | Title: The Turbulent Times of Formula One | 3/15/2010 | See Source »

...writing from a parallel universe, not quite our own. Kennedy's imagined world of stifled corporations and voiceless labor unions bears no resemblance to the America we live in, where the government pumps tens of billions of dollars into an auto-industry bailout skewed in favor of GM, Fiat and the United Auto Workers. At the same time, Stevens' picture of corporate fat cats oppressing the little guy ignores the revolution in campaign finance and communications that is being wrought by the Internet. Viable candidacies can now be launched overnight by the enthusiasm of small donors. Times have never been...

Author: /time Magazine | Title: Is the Campaign-Finance Ruling Good for Democracy? | 1/22/2010 | See Source »

...recover from the previous year's crash. Unemployment rose to 10.2%--the highest rate in 26 years--despite the Obama Administration's stimulus efforts, which pumped billions into the economy. Detroit was hit especially hard: Ford saw a steep drop in sales, Chrysler was taken over by Italian firm Fiat, and GM briefly entered bankruptcy. One bright spot was Wall Street, where stocks reversed much of 2008's decline. The economy showed encouraging growth in the third quarter, but with jobs still scarce, the impact of the Great Recession lingers...

Author: /time Magazine | Title: The World | 12/28/2009 | See Source »

Marrazzo's scandal is the third major public controversy in four years involving prominent Italian men and transgender prostitutes. In 2005, Lapo Elkann, the grandson of the former head of the Fiat auto dynasty Gianni Agnelli, was rushed to the hospital when he overdosed on cocaine at the Turin apartment of a transsexual prostitute. (He survived.) Two years later, photographs surfaced of Silvio Sircana, chief spokesman for then-Prime Minister Romano Prodi, having a conversation with what appeared to be a transvestite prostitute on the outskirts of Rome. Sircana insisted he was not soliciting the prostitute...

Author: /time Magazine | Title: In Italy, A Sex Scandal to Rival Berlusconi's | 11/26/2009 | See Source »

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