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...clubs with the biggest war chests - Real, United, Chelsea and Milan - use them to buy the players who'll ensure their continued dominance, concentrating talent in a handful of top clubs in each country, while those lower down the pecking order struggle to hold on to their best players. Even such legendary clubs as Arsenal and Liverpool in England, both of which reached the final four of last season's élite European Champion's League, are unable to match the financial muscle of Chelsea or Real Madrid, lowering their prospects for success...

Author: /time Magazine | Title: Soccer's Billion-Dollar Players | 8/3/2008 | See Source »

...compound released by other nerve cells in the spinal cord. The Harvard and Columbia groups are hoping to test that idea in the lab: if the cells in culture release the same agent, then finding drug compounds that block the damaging effects of the toxin could preserve neurons and hold off the paralyzing effects of the disease...

Author: /time Magazine | Title: Scientists Reach Stem Cell Milestone | 7/31/2008 | See Source »

...people lucky enough to hold stock, consumer confidence is indeed a state of mind. But for people with fixed incomes and the working poor who could barely pay their bills before, the current fiscal situation is a very real crisis. Try raising a 6-month-old baby when your water has been cut off. Try coming back from your chemo appointment to find that your electricity isn't working. Try deciding whether to pay your rent this month to forestall eviction or fill your tank with gas so you don't get fired from your job. How dare we think...

Author: /time Magazine | Title: Inbox | 7/31/2008 | See Source »

...idea of working on a commercial basis with a private operator rather than a museum caused some concern among curators. Even Cason Thrash ran into restrictions on what she could do at her party: the museum drew the line at using candles and turned down her request to hold the event in a painting gallery. "They do that at the Met," she gripes. Still, she gushes about Loyrette. "Henri's a visionary. He totally gets it," she says. "It's time for the Louvre to spread its wings...

Author: /time Magazine | Title: Sacre Bleu! It's the Louvre Inc. | 7/31/2008 | See Source »

...repackage them as securities - can be seen as the first big step toward Treasury's taking the cleanup job out of the Fed's hands. Fannie and Freddie owe or guarantee immense quantities of debt ($5.2 trillion, or almost as much as the Federal Government owes investors) but hold only tiny capital reserves to insure against losses. With house prices down 18% nationally since mid-2006 and defaults rising, worries were growing that they might be insolvent...

Author: /time Magazine | Title: Can Paulson Save the Economy? | 7/31/2008 | See Source »

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