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...billion) from the ETIC, which the flailing airline approached in October, in addition to hundreds of billions of yen in debt waivers from its main lenders. In addition, the ETIC and the state-backed Development Bank of Japan will extend JAL a credit line of more than $3.5 billion. Key measures of the restructuring plan include cutting more than 15,000 jobs, or about 30% of its workforce, by the end of 2013, paring down to about half of its 110 group firms, and slashing unprofitable international and domestic routes. JAL's shares - which hit an all-time...

Author: /time Magazine | Title: Japan Airlines Files for Bankruptcy | 1/19/2010 | See Source »

...other hand, fell afoul as the former owner of Jaguar by trying to take Britain's luxury sports-car brand into the mass market. Overseas buyers must "be aware of sensitivities of the brand and preserve it to sell the product successfully," Bailey says. "That's a key lesson for Kraft...

Author: /time Magazine | Title: Bittersweet Deal? Cadbury Accepts Kraft Takeover | 1/19/2010 | See Source »

...Lorraine will be a key partner for me and my team,” Kirwan wrote in an e-mailed statement...

Author: By Noah S. Rayman, CRIMSON STAFF WRITER | Title: Sterritt To Assume Post of College Dean for Administration | 1/19/2010 | See Source »

With so many legislators indicted in the most sweeping Pennsylvania political scandal in decades, Bonusgate has left a yawning power vacuum in the 253-seat General Assembly, with neither the governor nor party leaders able to take charge of key legislation. The most striking example was the bruising fight over the new state budget, which dragged on more than 100 days past its deadline. The budget finally passed in October left nobody satisfied, balancing the books by cutting state services, raising several taxes, opening state park land to gas drilling and greatly expanding the state's controversial gambling...

Author: /time Magazine | Title: Corruption Scandal Scrambles Pennsylvania Politics | 1/18/2010 | See Source »

...emerged in the region in recent years. In November 2008, gunmen believed to be part of the militant group Lashkar-e-Taiba unleashed a similar commando-style raid on Mumbai over a three-day period, killing about 170 people. Analysts say the timing of Monday's attack was also key, as it came at a particularly vulnerable moment for Karzai. In an attempt to turn the tide in the fight against the Taliban, he is expected to unveil a new plan next week in London to offer $1 billion in incentives - including jobs, education programs and other social benefits...

Author: /time Magazine | Title: Militants Launch Attack on Afghan Capital | 1/18/2010 | See Source »

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