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...combination of Germany's second- and third-largest banks creates the country's No. 2 bank with $1.46 trillion in assets, half the size of the nation's market leader, Deutsche Bank. In terms of retail customers in Germany, the newly enlarged Commerzbank is now the leader in German retail customers, with 11 million compared to Deutsche's 9.7 million...

Author: /time Magazine | Title: The German Merger Against the Odds | 9/1/2008 | See Source »

While the R8 is the designated head turner, Audi's momentum is being led by its lesser beasts, such as the $32,700 A4 and the $42,950 A6. Like its German counterparts, Audi benefits from an accurate perception that its cars are expertly engineered and well made. But in recent years, Audi's been winning the style wars, turning out models, like the TT sports car, with eye-catching designs that are hugely influential and popular with buyers...

Author: /time Magazine | Title: Audi Gets in the Fast Lane | 8/28/2008 | See Source »

Designing a car to be priced higher than its German rivals was an exercise in brand positioning, says De Nysschen. "We think we found a sweet spot in the market." Bentley--which, like Audi, is part of the Volkswagen Group--successfully exploited a similar luxury-market niche when it positioned itself between supercostly Rolls-Royce and the sedans and coupes of BMW and Mercedes...

Author: /time Magazine | Title: Audi Gets in the Fast Lane | 8/28/2008 | See Source »

...East German lawyer with a marked ability for negotiation, Wolfgang Vogel became known during the Cold War as the point person for anyone who wanted to cross the Berlin Wall--in either direction. Over three decades he helped more than 200,000 people leave East Germany, including American pilot Gary Powers, whose release he infamously arranged in exchange for Soviet spy Rudolph Ivanovich Abel. Though Vogel considered himself a humanitarian, his reputation was tarnished after the Cold War ended and he was convicted of blackmail. Upon appeal, he was cleared--and his benevolent reputation restored...

Author: /time Magazine | Title: Milestones | 8/28/2008 | See Source »

...gift on his last visit to the Vatican, just months before announcing that he - like the English prelate - had converted from Anglicanism to Catholicism. In a 1990 address marking a century since Newman's death, Ratzinger spoke about the profound impact Newman's views had on young German seminarians in the wake of the Nazi regime. "For us at that time, Newman's teaching on conscience became an important foundation for theological personalism, which was drawing us all in its sway," Ratzinger said. "We had experienced the claim of a totalitarian party, which understood itself as the fulfillment of history...

Author: /time Magazine | Title: Was a Would-Be Saint Gay? | 8/28/2008 | See Source »

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