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...empty room. The room must have been over eight feet deep. Perhaps it was deeper. There was a little boy crouching next to me at the edge of the window, and I turned to him, and pushed him so that he fell all the way down to the basement floor. I did it for no other reason than to see what would happen. I did it because I felt it was an interesting thing to do. I will never forget all my life that little boy's scream as he fell...I mention it now because I think I knew...

Author: /time Magazine | Title: Anne Rice's Spiritual Confession | 10/8/2008 | See Source »

Back at Ganley Chevrolet, the dealership's bank announced in a meeting yesterday morning that it will increase the floor plan rate - the interest on money that car dealers borrow to buy new inventory - by 1.5%. "Which forces me to have less inventory on hand," says Jim Helton, the general manager. "That makes it harder for me to sell cars, because I'm giving people fewer choices." The dealership's owners were planning this summer to spend millions of dollars on a complete renovation and expansion of the façade, showroom and service area. Rising credit costs, combined with...

Author: /time Magazine | Title: Cleveland's Crisis: Cars Aren't Moving | 10/8/2008 | See Source »

...lots of Cleveland, people at the ground floor of the economy are getting nervous too. In an average month, 260 customers walk through the doors of Boyland Acura in Cleveland. That total dropped to 80 in August, says general sales manager Clayton Hrabik. The few remaining shoppers find that it's getting harder to secure a loan. "Once we get down to the meat and potatoes of their credit worthiness," Hrabik says, "they just can't afford...

Author: /time Magazine | Title: Cleveland's Crisis: Cars Aren't Moving | 10/8/2008 | See Source »

...There was a modicum of cooperation on Tuesday, when E.U. finance ministers, meeting in Luxembourg, agreed to increase the minimum value of deposits guaranteed by member states to $68,000, from a previous floor of $20,000. But beyond that, there appeared little movement toward international coordination. On Monday Germany reaffirmed its determination not to participate in France's plan for a Europe-wide bank bailout plan, modeled on the U.S.'s $700 billion effort. Without Germany's participation, no such plan can proceed. "The Chancellor and I reject a European shield," German Social Democrat Finance Minister Peer Steinbruck told...

Author: /time Magazine | Title: Europe Struggles for a Response to the Bank Crisis | 10/7/2008 | See Source »

...under water by Ike. A moldy black water line high on the yellow siding shows where the water had crested, perhaps as high as 15 feet. The green storm shutters had held, but had been blown open and the water flooded into the home. The back bedroom's wooden floor had collapsed. Somewhere in the hole she hopes to find her husband's treasured sextant from his seafaring days...

Author: /time Magazine | Title: In Storm-Ravaged Galveston, Echoes of New Orleans | 10/6/2008 | See Source »

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