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...understand how the angst is playing out, consider Tipton, Ind., population barely 5,000. In April 2007, the German manufacturer Getrag LLC announced it would build a $455 million plant about an hour's drive north of Indianapolis. The plant's sole purpose was to build energy-efficient transmissions for Chrysler. The plant would inject some 1,200 new jobs into a state whose economy is both ailing and heavily dependent on the automotive industry. Townsfolk talked of a new hotel, a new fast-food restaurant. Earlier this month, however, Getrag announced that the entity established to build the Tipton...

Author: /time Magazine | Title: The Ripple Effect of a Potential GM Bankruptcy | 11/28/2008 | See Source »

...block away at Steve Madden, manager Francesca Ruggiero lamented that the store hadn't even sold $4000 worth of footwear by 9 a.m., even though it had opened at 6 a.m., an hour earlier than last year. Next door, Victoria's Secret manager Linda Petar told TIME, "We're on target," although by 8:45 a.m. the shop had sold less than $80,000 worth of merchandise toward its goal of $650,000 for the day. Other stores, including Perfumania, Fossil and Aerosoles all looked fairly desolate by 8 a.m., despite the perky signs beckoning, "Come In. We're Open...

Author: /time Magazine | Title: Black Friday Turnout: No Miracle on 34th Street | 11/28/2008 | See Source »

...early Thursday. The last person to leave, a young woman, told authorities that the only remaining hostages were the couple, who had made no sound or movement since the night before. By 5 p.m., they were presumed to be dead, and the Black Cat commandos moved in half an hour later, unleashing a volley of gunshots into the building. By 9:30 p.m. local time, the firing was still going on, and it was not clear whether the four to five suspects inside had been killed or captured...

Author: /time Magazine | Title: Inside the Taj: Tracking Down the Terrorists | 11/28/2008 | See Source »

...convoy of 18 SUVs pulls to a halt on the narrow road above Sanjiang, Wenchuan county, Sichuan, the gleeful shrieks of an excited crowd float upwards through the autumnal mist. The vehicles have made the three-hour journey from the provincial capital Chengdu, spending two hours of it crawling through countryside affected by the cataclysmic earthquake in May. We say countryside - in fact, the view through the windows is an unsettling inversion of what the term normally evokes. Giant fissures sunder the hills and there are yawning voids where roads should be. Broad swaths of boulders and debris remain...

Author: /time Magazine | Title: The Liberation of Jet Li | 11/27/2008 | See Source »

...decrease its student body by at least 10,000 students and to cap enrollment at all 23 of its campuses. Says Terry Hartle of the American Council on Education, a lobbying firm that represents 1,800 colleges and universities: "What you're seeing in California is a double witching hour." Cal State, which experienced a 20% increase in first-year applications this fall, is the first public university to cap enrollment since the market meltdown in September, a move other schools may follow as 21 states grapple with midyear budget cuts to public colleges and universities in the wake...

Author: /time Magazine | Title: Under Financial Stress, More Colleges Cap Enrollments | 11/26/2008 | See Source »

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