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...December, FedEx announced that its senior executives would earn 7.5% to 10% less, while its U.S.-based salaried workers would take a 5% haircut - affecting 36,000 people. "But even these measures," CEO Fred Smith said in a message to employees, "may not be enough to offset the rapidly deteriorating economy that has hit our industry so hard." In early April, the company let go of 1,000 employees...

Author: /time Magazine | Title: When Companies Opt for Pay Cuts Instead of Layoffs | 4/27/2009 | See Source »

...there's a three-story bandstand, which goes unnoticed until one of the chorines dives from its top, maybe 40 feet high, into a soft tarpaulin held by the burlier performers. A girl and a guy demonstrate that giant beach balls are not for throwing but for dancing on: Fred and Ginger, live, with no missteps. Then the guy on the ball puts another ball on his head, and the girl climbs up to stand on that. It's body art of nearly the highest order...

Author: /time Magazine | Title: Cirque du Soleil's Clowning Kooza | 4/25/2009 | See Source »

...underground stations, each group led by a "horseman of the apocalypse." At London Bridge, protesters walked to the blast of a trombone with a medley of motives. "Can we overthrow the government?" bellowed Chris Knight, one of the event's organizers. "Yes we can!" Beside an effigy of Fred Goodwin, the former boss of the Royal Bank of Scotland, who is blamed for its collapse, Knight predicted that "bankers should be hanging from lampposts" later in the day. (See pictures of the global financial crisis...

Author: /time Magazine | Title: The London Protests: Less Violence, More Street Party | 4/1/2009 | See Source »

...converge on the Bank of England as part of "Financial Fool's Day." G-20 Meltdown, the umbrella of anti-capitalist groups behind the demonstration, promises a "carnival" atmosphere. But here's a spoiler alert: "We are going to be hanging a lot of people like [RBS's Fred Goodwin] from lampposts on April Fool's Day and I can only say let's hope they are just effigies," Chris Knight, one of the march's organizers, told the BBC on Wednesday. "If he winds us up any more, I'm afraid there will be real bankers hanging from lampposts...

Author: /time Magazine | Title: Hang the Bankers! Getting Ready to Vent in London | 3/28/2009 | See Source »

...economy - he was, after all, the country's finance minister for a decade until 2007 - but he's also helped stoke the public's irritation toward banks. "The anger that the public has," the Prime Minister said in February of the furor over the size of Fred Goodwin's pension, "is anger that I have as well." Just don't expect to see Brown on the streets next week...

Author: /time Magazine | Title: Hang the Bankers! Getting Ready to Vent in London | 3/28/2009 | See Source »

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