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...video recorded by a restaurant security camera, the official acknowledged to the girl's family that he had grabbed her but said his government position meant there was nothing her family could do about it. The official resigned after a public outcry. Police investigated but declined to file charges...

Author: /time Magazine | Title: China's 'Netizens' Take On the Government | 1/23/2009 | See Source »

Technology saved the music industry in the '80s. Technology also destroyed it less than 20 years later. The advent of file sharing programs like Napster, the industy's refusal to adopt new distribution methods, free-spending executives, the shrinking of radio and the increasing power of big-box retailers over devoted record stores - all have led to the present situation, where many consumers would rather steal music than pay for it. Knopper's analysis of the situation is pretty insular, however. Rather than attempting to draw parallels between music and other entertainment industries that have been rocked by the Internet...

Author: /time Magazine | Title: The Music Biz: Murder or Suicide? | 1/22/2009 | See Source »

...lethal combination of mismanagement, overexpansion and economic gloom is driving the boom in retail liquidations. During better days, a company could file for Chapter 11 bankruptcy, and the banks would finance its operations until the shops could restructure. These so-called debtor-in-possession, or DIP, loans kept the company operating. In the early 1990s, for example, Macy's spent nearly two years in Chapter 11. Today, banks aren't keen to lend to anyone, least of all a retailer in miserable shape. (See the worst business deals...

Author: /time Magazine | Title: How Liquidators Profit from Circuit City's Loss | 1/22/2009 | See Source »

...podcast their books and post them, chapter by chapter, on blogs. Four of the five best-selling novels in Japan in 2007 belonged to an entirely new literary form called keitai shosetsu: novels written, and read, on cell phones. Compared with the time and cost of replicating a digital file and shipping it around the world--i.e., zero and nothing--printing books on paper feels a little Paleolithic. (See 25 must-have travel gadgets...

Author: /time Magazine | Title: Books Gone Wild: The Digital Age Reshapes Literature | 1/21/2009 | See Source »

...aimed at helping middle-class working parents afford the cost of daily child care, not at helping pay for expensive retreats. An accountant told Geithner in 2006 that overnight camps were not eligible for a tax break, according to the Senate Finance Committee report. Still, Geithner failed to file amended tax returns and pay his back taxes until shortly before being nominated by Obama. (See who's who in Barack Obama's White House...

Author: /time Magazine | Title: Tax Tips for Timothy Geithner | 1/21/2009 | See Source »

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