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...credit bubble, a housing collapse and a systemic failure of the banking industry,” he refuses to acknowledge that long-term economic recovery will need to address not only the most immediate causes of the financial crisis, but also structural and long-persisting challenges to economic growth...

Author: By Brittney L. Moraski | Title: Krauthammer’s Non Sequitur | 3/15/2009 | See Source »

...pulling a flood of Western professionals into Singapore, a Western face in a working-class neighborhood like Bukit Panjang was a rare sight. According to investment bank Credit Suisse, Singapore's population grew 18%, to about 4.8 million, from 2004 to 2008. More than three-quarters of that growth, Credit Suisse estimates, came from newly arrived foreigners taking lucrative positions at expanding private banks, oil-exploration firms and shipping companies. Foreigners filled 61% of the 796,000 jobs created in Singapore during that four-year period...

Author: /time Magazine | Title: Laid Off in Singapore: Ex-Pats Have to Downsize | 3/15/2009 | See Source »

...Last to be relinquished in most cases is a child's enrollment in an exclusive school, where annual tuition ranges from $15,000 to $20,000. Local schools like Hwa Chong International (tuition: about $10,000) are reporting strong growth, not only because they're cheaper but also because these schools are popular with foreigners who see their children's long-term future in Asia rather than in the West. Enrollment at Hwa Chong, which offers classes in English and Chinese, jumped from 283 students last year to 440 this year, according to school officials. "The education in Chinese gives...

Author: /time Magazine | Title: Laid Off in Singapore: Ex-Pats Have to Downsize | 3/15/2009 | See Source »

...While Walmart, the largest company in the world, has always dwarfed rival Target ($406 billion in annual revenues vs. Target's $65 billion), until recently Target had been decisively winning the growth game. From 2003 to 2007, Target's annual same-store sales growth averaged 4.6%, while Walmart's clocked in at 2.9%. Over the same period, Target's annual profit growth averaged 16%, while Walmart lagged behind at 10.3%. "Target was frying Walmart's brains out," says Howard Davidowitz, chairman of Davidowitz & Associates, a national retail investment-banking and consulting firm...

Author: /time Magazine | Title: Walmart vs. Target: No Contest in the Recession | 3/14/2009 | See Source »

...biggest low-cost growth areas is in online tutoring, a relatively new addition to the $4 billion test prep industry. The Princeton Review's cheapest online program - which includes three weeks of access to practice tests and online office hours with a certified instructor - will set you back a mere $85, less than a quarter of what the company charges for a single hour with a flesh-and-blood tutor; enrollment in its online offerings grew 15% in 2008. Over at Academic Approach, online programs are also enjoying double-digit growth. They're more expensive - $499.99 for 45 instructional videos...

Author: /time Magazine | Title: SAT in the Recession: Test-Prep Prices Drop | 3/14/2009 | See Source »

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