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...DIED. PHILIP JOHNSON, 98, one of America's most innovative architects; in New Canaan, Connecticut. In the 1930s, Johnson helped introduce America to the European glass-and-steel Modernism that would come to dominate its skylines, and developed seminal works of the style such as the Seagram Building and his Glass House. "All that a nervous sensibility, lively intelligence and a stored mind can do, he does," said architectural historian Vincent Scully...

Author: /time Magazine | Title: Milestones | 1/31/2005 | See Source »

...Wabi-Sabi House: The Japanese Art of Imperfect Beauty, by Robyn Griggs Lawrence, helps you apply the principles of wabi-sabi to the place where you live. Wabi-sabi in the home, according to Lawrence, is "flea markets, not warehouse stores; aged wood, not Pergo; rice paper, not glass. It celebrates cracks and crevices and all the other marks that time, weather and loving use leave behind." Although at first glance it may seem a bit shabby chic, a style that cultivates a worn patina, it differs in attitude, asking that we "set aside our judgments and our longing...

Author: /time Magazine | Title: House of Calm | 1/30/2005 | See Source »

Peter Bennett is celebrating the end of the week by knocking back a glass of lager at the Bell Inn. The Nottingham University engineering student estimates he'll down eight or nine pints before night's end. That's what he says he puts away in his thrice-weekly sessions, which start at a pub around 9 p.m. and end at a club five or six hours later. "We definitely drink more" in Britain, he says. "It's just the culture to get pissed, I guess." Outside, two young men square off drunkenly but stop when a police van glides...

Author: /time Magazine | Title: Battle Of The Binge | 1/30/2005 | See Source »

...Canaan, Conn. One of the nation's best-known architects and architectural tastemakers, he was also one of the great American enthusiasts. As co-organizer of the pivotal 1932 International Style exhibition at New York City's Museum of Modern Art, he introduced the U.S. to the European glass-and-steel modernism that would dominate its skylines after World War II. As an architect he produced some fine work in the modernist vein, like his own Glass House. But modernism's refusal of historical reference made him restless. In 1984, with his Chippendale-topped AT&T building in Manhattan...

Author: /time Magazine | Title: Milestones Feb. 7, 2005 | 1/30/2005 | See Source »

...Punters who believe they can find gemstones in the scrap heap face one other glass shard. When SOEs go public, government entities continue to hold up to 70% of the shares. Bejing in effect banned the sale of these shares, so the state would maintain corporate control. But in June 2001, at the height of the market bubble, the government announced that it would allow the sale of some "nontradable" shares and use the proceeds to fund a national pension scheme. Investors panicked, fearing a flood of new shares would drive down prices. Although the government quickly reversed its decision...

Author: /time Magazine | Title: China's Market Maladies | 1/30/2005 | See Source »

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