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...international airline consultant with inside knowledge of Alitalia said the deal was inevitable despite years of waste and posturing. The companies are already linked through the SkyTeam alliance (along with Delta, Korean Air and others), and Air France and KLM have their own recent merger experience to work from as take in Alitalia. "This is the first real substantive positive step toward a viable long-term solution," said the consultant, who requested anonymity because of his company's work with the parties involved. "Everything before has been just kicking the can down the road, and political folly...

Author: /time Magazine | Title: Why Air France-KLM Bought 25% of Alitalia | 1/12/2009 | See Source »

What has changed is the way we spend that 18%. In the 1950s, during the Korean War and at the height of the Cold War, about 10% of GDP was devoted to defense. Over time, that share of spending on defense declined, making room for proportionally more spending on things like health care, education and infrastructure. By the late 1970s, as defense spending declined to 4% to 5% of GDP, there wasn't a lot more room to squeeze defense for higher domestic spending. Even with the end of our current wars in Iraq and Afghanistan, it's most unlikely...

Author: /time Magazine | Title: The Case for Bigger Government | 1/8/2009 | See Source »

...last decade, people have attempted to outsmart alcohol with so-called anti-hangover pills such as Chaser and Alcohol-X, which, when taken before a drink, supposedly help the liver by absorbing toxins. In 1997, a South Korean businessman developed Dawn 808 (Dawn stands for Drinkers Are Winners Now), a canned tea-based drink made from alder leaves that claims to accelerate alcohol breakdown...

Author: /time Magazine | Title: Hangovers | 1/1/2009 | See Source »

During World War II and the Korean War, Stafford toured extensively, performing for U.S. servicemen. She was shy and neither greatly beautiful nor a huge theatrical presence. But because she was so dignified and understated, soldiers could identify with her. When she sang, servicemen overseas felt as if they were at home. Although she was a major star, she was a modest person who would have seemed out of place in a limousine. She was like a girl on a bus, always heading toward the music...

Author: /time Magazine | Title: Jo Stafford | 12/29/2008 | See Source »

...after adjusting for inflation, that's four times more than America spent fighting World War I, and more than 10 times the cost of 1991's Persian Gulf War (90% of which was paid for by U.S. allies). The war on terrorism looks set to surpass the costs the Korean and Vietnam wars combined, topped only by World War II's price tag of $3.5 trillion...

Author: /time Magazine | Title: The $1 Trillion Bill for Bush's War on Terror | 12/26/2008 | See Source »

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