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...before the 2007-08 season based on just his two strong years of college coaching at New Mexico State - not exactly an NCAA powerhouse. Carlesimo, once a successful college coach at Seton Hall University, had never meshed with pro players: in the 1990s, he failed in both Portland and Golden State, where he found himself on the receiving end of Latrell Sprewell's infamous choke hold. Randy Wittman was coaching a team that everyone expected to be cellar dwellers, and proved winner Eddie Jordan has had to deal with a raft of early-season injuries...

Author: /time Magazine | Title: The NBA's Epidemic of Fired Coaches | 12/17/2008 | See Source »

...What They're Watching in the U.K.: Perhaps it was inevitable. Mamma Mia!, the Golden Globe--nominated Abba songfest starring Meryl Streep, has become the all-time highest-grossing movie in the U.K., bumping 1997's Titanic from the top spot. The movie, while still in theatrical release after 23 weeks, also bested Titanic in DVD sales, with 1.7 million copies sold on its first day. The musical has been playing on London stages since...

Author: /time Magazine | Title: The World | 12/17/2008 | See Source »

...Wrestler doesn't open till Wednesday, and already Mickey Rourke has won Best Actor from the Boston and Washington, D.C., critics groups and earned a Golden Globe nomination in that category. His performance as a broke, broken-down fighter stoked Wrestler-mania at the Toronto Film Festival and, before that, in Venice, where the film had its world premiere (winning the top prize). That was back in early September, when the Los Angeles Times headlined the question: "Will The Wrestler get hold of an Oscar for Mickey Rourke...

Author: /time Magazine | Title: The Wrestler: Mickey Rourke's Comeback Fight | 12/15/2008 | See Source »

Ponzi, who was released from prison and deported back to Italy in 1934, set the standard in the genre. But the golden age of Ponzi and pyramid schemes didn't arrive for decades. (The two highly similar cons are often conflated, though in Ponzi schemes, a ringleader facilitates the entire enterprise; in a pyramid scheme, rungs of collaborators recruit new investors.) In the boom years of the 1980s and '90s, as traders developed increasingly sophisticated investment vehicles, the cons cropped up with increasing regularity. In 1985, a San Diego currency trader named David Dominelli was revealed to have fleeced more...

Author: /time Magazine | Title: Ponzi Schemes | 12/15/2008 | See Source »

...former banker living in Christchurch, New Zealand. Rather, it offers a way "for people to share and redeem value they have in the community." He says the currencies are most useful in geographical areas or social sectors where money doesn't flow sufficiently, citing, for example, New Zealand's Golden Bay, which is so remote that it sometimes nearly functions as its own economy...

Author: /time Magazine | Title: Alternative Currencies Grow in Popularity | 12/14/2008 | See Source »

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