Word: fifth
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Richard Parsons is the new face of the struggling, bailout-needy Citigroup. The former CEO of Time Warner Inc. (TIME's parent company) became Citi's Chairman just days after the company announced an $8.3 billion fourth-quarter loss - its fifth quarterly loss in a row - and revealed that it would separate its retail banking business from the risky assets dragging it down. Citi may be taking on water faster than it can dump it out, but Parsons is no stranger to financial struggle. When he took over AOL Time Warner in 2003, the media conglomerate was $27 billion...
...political civility. We also feature a photographic notebook by TIME photographer Callie Shell, whose behind-the-scenes photographs of Obama and his family have given our readers a special insight into the man and reveal what you can't see on television. This was her fifth Inauguration, and she says she had never experienced anything like it. She said Obama was moved by the scene on the Mall--which you can see in her images. The day is planned and plotted down to the second, but what Callie captures is unscripted and unrehearsed...
...envelope containing unidentified white powder was delivered to the office of Harvard Law Professor Alan M. Dershowitz on the fifth floor of the Law School's Hauser Hall this morning...
...Dhabi isn't the last place you'd expect to find ambitious plans for solar energy and ultra-green construction, it has to be close. The seaside capital of the United Arab Emirates (U.A.E.) is the world's fifth largest producer of petroleum, and the wealth that oil brings this former fishing village is evident in the foreign luxury cars that choke its highways, running on gas that costs just 45 cents a gallon. But a year ago, the government launched the multibillion-dollar Masdar Initiative, a combination clean-tech investment fund, property developer and renewable-energy start...
...first trading day of 2009, buyers lifted the Nikkei to above the 9000 level for the first time in two months. The boost, however, was short-lived, and the Nikkei continued to drop, after losing 42% in 2008. Now hovering just above 8200, the index is about one-fifth of what it was in 1989 at the peak of Japan's stock-market bubble. (See pictures of scared traders...