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...desk, sure that I am about to be upgraded to a presidential suite. Then I'm told there are no more rooms of any kind available at The Hotel. When I go to meet a friend by the pool at the Mandalay Bay, it's too crowded to find chairs. All the price-cutting has succeeded: the town is full. This recession business is totally not working...

Author: /time Magazine | Title: Less Vegas: The Casino Town Bets on a Comeback | 8/14/2009 | See Source »

...worse, the bottom fell out as casino owners were building, so a number of them couldn't replace construction loans with the financing that was once readily available to complete and open hotel-condo-casino projects. Deutsche Bank foreclosed on the $3.9 billion Cosmopolitan Hotel; only it couldn't find a buyer, so the bank is in the odd position of owning a casino - though given the way banks have operated in this decade, that seems like a logical business extension. Meanwhile, Station Casinos, Tropicana and Herbst Gaming have disproved the adage that you can't lose money owning...

Author: /time Magazine | Title: Less Vegas: The Casino Town Bets on a Comeback | 8/14/2009 | See Source »

...reunifications can be wrenching affairs in such a confused atmosphere, as people come to realize that choosing between family members means having to choose whether to be Georgian or South Ossetian - in some cases, children find themselves forced to decide between one parent or another. "We repeatedly and clearly explain that this decision is final - now and forever," says Tedeti. "If they change their mind, they cannot come back...

Author: /time Magazine | Title: In South Ossetia, Families Remain Torn Apart | 8/13/2009 | See Source »

...suspicions and theories are all there is, until the rescue vessels find the missing ship - if they ever do. Maritime expert Burnett says international law would normally require that the Russian navy receive permission from Maltese authorities to board the Arctic Sea, but a specific piracy exemption in the U.N.'s Law of the Sea Convention allows any country to board a ship it suspects has fallen under the control of pirates. (See pictures of the face of modern piracy...

Author: /time Magazine | Title: Has Piracy Spread to Europe's Waters? | 8/13/2009 | See Source »

...this case, I think any nation can ask the Arctic Sea to heave-to and be boarded," Burnett says. "We are all waiting to find out what happens. Right now, it is very mysterious...

Author: /time Magazine | Title: Has Piracy Spread to Europe's Waters? | 8/13/2009 | See Source »

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