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...enable it all - has made Florida tops in mortgage fraud, according to the Mortgage Asset Research Institute; in a recent Palm Beach County case, a grocery cashier's salary was listed as $344,000 a year. And Paul Singerman, bankruptcy counsel for Puig's companies, is even busier. His firm represents the Florida home builders Tousa Inc. and Levitt and Sons, which happen to be the nation's two largest bankrupt home builders, along with droves of failing contractors, landscapers and architects. "I got two calls from window distributors this week," Singerman told me. "A tile guy called this morning...

Author: /time Magazine | Title: Is Florida the Sunset State? | 7/10/2008 | See Source »

...doesn't specify a baseline year. European leaders want to bring emissions down to 50% of 1990 levels, but host nation Japan seemed to indicate that it would be happy to use present-day levels. The difference in actual reductions would be enormous. So what appears to be a firm numerical target is just more hot aspirations?not too different from the original U.N. Framework Convention on Climate Change, which aimed to stabilize carbon emissions at a level that would prevent "dangerous human interference" with the environment. That was signed in 1992?by another President Bush...

Author: /time Magazine | Title: Too Little, Too Late. | 7/10/2008 | See Source »

Publicly, AAR's list of grievances is long. It claims, among other things, that TNK-BP operates too much like a BP subsidiary, resisting expansion beyond Russia to avoid stepping on the British firm's toes. Instead, the Russians want an independent CEO, and a culling of BP staff seconded to the Russian venture. AAR, led by Mikhail Fridman, TNK-BP's chairman, has even threatened legal action after its calls for more influence came to nothing...

Author: /time Magazine | Title: Another Fine Mess in the Oil Business | 7/9/2008 | See Source »

...their part, TNK-BP's British executives defend the company's performance and mutter darkly that their Russian partners are maneuvering to take control of the venture. This dispute isn't TNK-BP's only headache, either. In recent months, Russian security services have raided the firm's premises as part of an industrial espionage probe, detaining a low-level employee (though TNK-BP itself was not involved in the investigation); officers at Russia's Interior Ministry have questioned Dudley as a witness in connection with another probe into tax evasion at a firm later absorbed into...

Author: /time Magazine | Title: Another Fine Mess in the Oil Business | 7/9/2008 | See Source »

...hard to see why the Brits might welcome Gazprom. Likewise, Gazprom may be more attuned to the benefits of having a foreign partner with deep pockets and a long-term outlook. To help develop a vast gas field in the Barents Sea, Gazprom teamed up with Norwegian oil firm StatoilHydro and French giant Total last year, indicating there's still an openness to such partnerships, even as Russia gains confidence in its ability to fly solo. Moreover, Moscow is under pressure to reverse a worrisome slowdown in the nation's oil production. While the rules of the game keep changing...

Author: /time Magazine | Title: Another Fine Mess in the Oil Business | 7/9/2008 | See Source »

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