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...been careful to tell investors exactly what is going on inside the financial unit. Yesterday, the firm said, "We made $8.6B in financial services in 2008, and we have an excellent franchise that we are restructuring to perform in the current environment. Also, we have an "originate to hold" model that is highly collateralized, so we have a more conservative approach than the U.S. consumer banks...

Author: /time Magazine | Title: In Defense of General Electric | 2/24/2009 | See Source »

...strongly do you believe The Nurture Assumption's assertions hold up a decade on? They've held up quite well. I took an extreme position: that parents have no important long-term effects on their children's personalities. By doing this, I was making myself an easy target, inviting developmental psychologists in the academic world to shoot me down. But their attacks have been surprisingly ineffectual. One traditional developmental [psychologist]even admitted, not long ago, that they still can't prove that parents have any long-term effects on children. She continues to hope, however, that someday they will find...

Author: /time Magazine | Title: Why Parents (Still) Don't Matter | 2/24/2009 | See Source »

...them. United Spirits, India's largest liquor maker, recently announced plans to reduce its debt by selling up to 49% of Whyte & Mackay, the British distiller it bought for $883 million two years ago. Setco Automotive, a leading Indian clutch manufacturer, has put all further foreign acquisition plans on hold after buying manufacturing facilities...

Author: /time Magazine | Title: India's Top Automaker, Tata Motors, Hits a Rough Patch | 2/24/2009 | See Source »

...hope that this will help us unearth more masterpieces, to convince others that this is a good time to sell. We see tonight that people very much still want to invest in art." Nevertheless, the same logic - and the shaky world financial system - may yet convince collectors to hold on to what they...

Author: /time Magazine | Title: Saint Laurent Art Sets Records | 2/24/2009 | See Source »

Democrats still hold out hope for bipartisanship because, unlike the rushed stimulus plan, these massive programs will take months to go through the committee process, where minority members can amend the measures. "And then what happens - unless the Republican Party is making a conscious decision not to participate, to say no to everything - is you'll get bipartisanship regardless of what the leadership wants," the White House official says...

Author: /time Magazine | Title: Eric Cantor: Giving the GOP Back Its Mojo | 2/23/2009 | See Source »

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