Word: hasn
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Germany has a lot of fine qualities, but being hip isn't usually thought to be one of them. Up-and-coming artists, especially ones from abroad, used to flock to London, Amsterdam or New York City rather than Hamburg, Munich or Cologne. As for Berlin, it hasn't been on the international cool list since Christopher Isherwood lived in the city in the early 1930s and chronicled the demise of its rambunctious culture under the Nazis. If foreigners came to visit, they were hippies, spies, U.S. Presidents or peeping tourists curious to catch a glimpse of communism from...
...fridge at a Suning appliance store. The 32-year-old, who works as an salesman in the air-freight department at China Eastern Airlines, says his salary was reduced by a third last year when his company was hit hard by the financial crisis, but that hasn't stopped him from spending. With China's future so bright, he doesn't worry too much about saving for the future. "Judging from my job, my life, I think everything will become better and better," Lu says. And maybe for the entire world economy as well...
...That hasn't come without cost. As the FHA filled the void left by the private sector, it has assumed the risks of those loans. And now that a growing number of people have stopped paying their mortgages, the FHA has had to pay out more in claims that it forecast. The agency has just $3.6 billion on hand to cover any unexpected losses in its $685 billion portfolio. That paltry level of reserve funding, less than is mandated by the government, has left some members of Congress in a twitchy mood and some onlookers to wonder...
History offers a warning to the unwieldy, too. Even if they trim their operating budgets, BA/Iberia will still be carrying serious weight - the combined firm should fly some 60 million passengers each year. But that calls for slick organization, something BA hasn't always enjoyed. (Remember the opening of Heathrow Airport's Terminal 5?) "When United [Airlines] went into Chapter 11, they were the largest airline in the world," says Pilarski. "Airlines that went under didn't go under because they were so puny they just needed to be bigger. If BA at their size is not efficient, something...
...hint that Beijing is getting a little nervous about the value of the dollar - which has fallen 15% since March, in large part because of increasing fears that America's debt load is becoming unmanageable. (See TIME's special report "Obama After a Year: What's Changed, and What Hasn...