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...While the revenue of state and local governments are falling, their obligations are not. On average, states have funded only 83% of what they owe or will owe to their retired workers. Many states have done a much worse: West Virginia, Road Island, Connecticut and Oklahoma all have less than 60% of their retiree benefits paid for. "The number of state funding ratios at the low end is startling," says Peter Hayes, who heads BlackRock's municipal bond management committee. "The prospect for even greater liabilities is a reasonable scenario if the country becomes trapped in a prolonged recession...

Author: /time Magazine | Title: Rising Risks in Muni Bonds Worry Investors | 4/13/2009 | See Source »

Paradoxically, the thirsty city was once a great lake, where the Aztecs founded their island citadel Tenochtitlan in 1325. When the Spanish conquerors took control they drained much of the water, laying the basis for the vast expansion of the metropolis across the entire Valley of Mexico. However, as the growing population continues to suck water out in wells, Mexico City is sinking down into the old lake bed at a rate of about three inches a year. This downward plunge puts extra pressure on water distribution pipes, which are now so leaky they lose about 40% of liquid before...

Author: /time Magazine | Title: Dry Taps in Mexico City: A Water Crisis Gets Worse | 4/11/2009 | See Source »

Though he has said he'll keep the trade embargo intact until he sees more political reform in Cuba, Obama is expected to lift restrictions on Cuban-American travel and remittances to the island before the Americas summit begins. The U.S. Congress, for its part, appears closer than ever to passing legislation to lift the Cuban travel ban for all U.S. citizens - prominent lawmakers like Indiana Republican Senator Richard Lugar now call the embargo a failed policy - and Obama would probably sign such a measure. At the same time, Fidel and Raúl Castro have both in recent days...

Author: /time Magazine | Title: Militant's Indictment Could Boost U.S.-Latin Ties | 4/10/2009 | See Source »

...Jolie apparently became tied up with filming commitments on Long Island, which prevented her from making the scheduled appearance, event organizers said...

Author: By Edward-michael Dussom, CRIMSON STAFF WRITER | Title: Brangelina Cancel, James Haven Holds Forth | 4/9/2009 | See Source »

...some disgust and disappointment on display in Kirkland JCR when it became evident that Brangelina would be flaking on the 80-odd assembled Harvard undergrads (and a few more looking in the windows). Word on the street is Angelina’s doing some filming out on Long Island, and couldn’t make it up for the event. So instead, the students patiently absorbed Haven’s words of worldly wisdom concerning positive action (yada yada), marveled at his erudite quotations from sources as varied as Mother Teresa and Frederick Douglass, and eagerly clung to the hope...

Author: By Edward-michael Dussom | Title: Brangelina Plays Hooky | 4/9/2009 | See Source »

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