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...will be profitable but disappointing, and he expects to set aside $3.3 billion in write-downs. So days after the Countrywide deal, Lewis announced a restructuring of BofA's struggling investment-banking business, including a round of 650 layoffs. Unlike Citi and Merrill Lynch, BofA has never made the grade as a big hitter in investment banking...

Author: /time Magazine | Title: The Savior of Countrywide? | 1/17/2008 | See Source »

Nothing gives principal Suraya Sarwary more pleasure than the sound of her second-grade girls reciting a new lesson out loud. Six years ago, that sound could have gotten her executed. The Taliban had outlawed education for girls, but a few brave teachers taught them in secret. Sarwary, now the principal of Karokh District Girls High School in Afghanistan's Herat province, recalls gathering students furtively in her home and imparting lessons in whispers for fear that her neighbors might report her to the Taliban...

Author: /time Magazine | Title: Afghanistan's Girl Gap | 1/17/2008 | See Source »

...hands as they pass it around for reading lessons. There is no playground or running water. The toilet, a pit latrine located at the far corner of the school compound, serves 1,500 students. Only two of the 23 female teachers have graduated from high school. Half the second-grade students, ranging in age from 7 to 12, can read; the rest just recite from memory. The freedom to study is a blessing, but Sarwary knows it is not nearly enough. "Our students have talent and a passion for learning I've never seen before," says the slim, stylish...

Author: /time Magazine | Title: Afghanistan's Girl Gap | 1/17/2008 | See Source »

Like many high-end European and American designers, Jacobs is cashing in on the growing demand for chic clothing for the stroller and grade-school sets. The concurrent trends of older moms and dads and an increase in dual-income families mean that many boomer parents are not only richer but also ready to spend lavishly on their little darlings. The same people who casually shell out $800 for a Bugaboo stroller don't flinch at a $300 Little Marc cashmere sweater. As a result, sales of infant and toddler clothing have soared. In 2006 they spiked to $33.3 billion...

Author: /time Magazine | Title: Downsizing Style | 1/17/2008 | See Source »

...that is—and no combination of office hours, extensions, and reference letters will shut them up. There’s a growing stack of graduate school applications to reject, and the wannabes that have already gotten through are hard-pressed to tie their own shoelaces, let alone grade exams, without professional help. The kids are back in school—thank God—but the damned hybrid doesn’t handle well in the snow.And you expect us to go to a Faculty meeting? I think I’ll catch up on my journals, thank...

Author: By Adam Goldenberg | Title: Spectacular, Spectacular! | 1/17/2008 | See Source »

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