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...have had insufficient inventory in stock at dealers to take advantage of the surge in new-car shoppers, says Jessica Caldwell, an analyst for Edmunds.com. "Chrysler's lack of small cars also hurt," she adds, nodding to the Clunker-program buyers' strong preference for fuel-efficient vehicles. Even struggling General Motors Corp., which also closed its factories after filing for bankruptcy and saw total sales drop year over year, reported a sales increase of 30% in August, when measured against the previous month. Overall, Chrysler sales were up a meager 5% compared with July and dropped 15% year over year...

Author: /time Magazine | Title: Chrysler Still the Laggard, Despite Cash for Clunkers | 9/2/2009 | See Source »

...long-awaited report from the inspector general at the Securities and Exchange Commission concluded that the SEC received six "substantive" complaints from June 1992 to December 2008 that could have uncovered disgraced financier Bernie Madoff's Ponzi scheme as early as 1992 if it had "properly examined or investigated" Madoff's trading practices...

Author: /time Magazine | Title: SEC Internal Review Cites Multiple Failures on Madoff | 9/2/2009 | See Source »

...first hours as Japan's new ruling party, the Democratic Party of Japan (DPJ) and its leader Yukio Hatoyama wasted no time preparing for a transition of government. In the historic Aug. 30 general election, the Japanese people - about 70% of eligible voters cast ballots - ended a half-century of nearly unbroken rule by the Liberal Democratic Party (LDP). Hatoyama's party took 308 of the 480 seats in the House of Representatives, 12 seats shy of a two-thirds majority that would have allowed the party to single-handedly pass bills rejected by the upper house...

Author: /time Magazine | Title: Japan's Government: Five Ways to Fix the Economy | 9/1/2009 | See Source »

...photocopy of the responses - are duly sent to the Holy See archives. Such missives are divided among those of a personal nature from ordinary faithful that are kept in the Pope's personal archives and those of a public or political nature that go into the Vatican's "general" archive. After a certain period of time following a Pope's death, scholars may eventually be given access to the correspondence. The Pope would never reveal the contents of the private correspondence he receives, the Ambassador told TIME...

Author: /time Magazine | Title: The Pope's Response to Ted Kennedy's Letter: Pro Forma | 9/1/2009 | See Source »

...medical officer's report to MacAskill, dated Aug. 10, says, "It is very difficult to be precise on matters of prognosis for any disease, and Mr. Megrahi's condition is no different ... Factors in favor of a good prognosis in Mr. Megrahi's case center around his background of general good health, quality of health care and overall lifestyle, involvement in his care and compliance with treatment." Justice Minister Straw has said he originally argued to have al-Megrahi excluded from last November's bilateral prisoner-transfer agreement but ultimately gave in to Libya's demands...

Author: /time Magazine | Title: Lockerbie Bomber's Release Casts a Shadow Over Gaddafi Celebration | 9/1/2009 | See Source »

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