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...they have viable long-term business plans before qualifying for a second round of loans in March. All told, the Big Three have asked for $34 billion in bridge loans, though many economists say it will take up to $200 billion to really reinvent Detroit; negotiators have agreed to grant $14 billion to keep them afloat through March, but the companies must jump through significant hurdles in order to qualify for more federal aid after that. (Read TIME's biographies of the Big Three CEOs...

Author: /time Magazine | Title: Another Bailout Blowout? Why the Auto Deal May Crash | 12/11/2008 | See Source »

...them. She's phoning from a small village in the Kursk region, southeast of Lyudinovo. She wants to borrow 30,000 rubles - just over $1,000. The woman taking her call fills in the details on a screen. Experienced call-center workers can process a request and grant pre-approval in under six minutes, but Kumyiny can't remember her zip code, which slows everything down. Watching over the process is deputy operations director Viktoriya Selezneva, who says the economic crisis has yet to arrive. "The volume of calls hasn't decreased for us," she says. But then, the Christmas...

Author: /time Magazine | Title: Russia's Big Chill | 12/11/2008 | See Source »

According to Cigar Aficionado, nearly half of all U.S. Presidents smoked. Ulysses S. Grant never shook the cigar habit he picked up during the Civil War. William McKinley had a similar love of stogies, but like Obama, he never allowed himself to be photographed in the act. Theodore Roosevelt barred his daughter Alice from smoking in the White House, so she took her habit to the roof. Calvin Coolidge was known to offer cigars to Congressmen after White House breakfasts...

Author: /time Magazine | Title: Smoking in the White House | 12/11/2008 | See Source »

...Gunn, the student body must “make it work” in order to achieve this aim. The UC must reaffirm its mission to advance student interaction and inter-community learning by maximizing the net benefit of event funding. The UC must strengthen its relationships with other grant-giving bodies, such as the Harvard Foundation, Office for the Arts, and Phillips Brooks House Association to ease student access to Harvard’s many resources. Finally, the UC must prioritize clear communication and simplify avenues for grassroots student input to better inform sensible, productive change in policy...

Author: By Anthony R. Britt | Title: Change U Can C | 12/11/2008 | See Source »

...Clearly, the charges announced today reveal that the office of the governor has become nothing more than a vehicle for self-enrichment, unrestricted by party affiliation and taking Illinois politics to a new low." - Robert D. Grant, special agent in charge of the Chicago office...

Author: /time Magazine | Title: Rod Blagojevich | 12/10/2008 | See Source »

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