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...Government security officials and independent observers say the Naxalites have begun to reorganize along more formal military lines. The rebels still use bows and arrows, knives and ancient rifles, but have begun to stock up on machine guns, land mines and mortars, and are building increasingly sophisticated roadside bombs. Based on documents seized in the past year, Indian intelligence agencies estimate that Naxalite Inc. now has an annual budget of $250 million, much of which comes from extorting road contractors and mining companies, and from taxing hundreds of thousands of poor villagers. That money, analysts say, is funding the Maoists...

Author: /time Magazine | Title: India's Secret War | 5/29/2008 | See Source »

...point. Prior to the 2006 crisis, analysts warned that Iceland - where Land Rovers and private jets seem to outnumber the nation's 308,000 people - was growing too quickly, and that excessive consumption would cause the economy to overheat. Yet the nation's three largest commercial banks - Kaupthing, Landsbanki and Glitnir - continued to exploit their then strong currency and cheap credit to buy banks in Denmark, Norway and the U.K., as well as British retailers like House of Fraser and Moss Bros. They amassed foreign assets equivalent to 800% of the nation's GDP, the highest ratio of any country...

Author: /time Magazine | Title: Cracks in the Ice | 5/29/2008 | See Source »

...government programs have delivered on america's promise as a land of opportunity as explicitly as the GI Bill. When it was signed in June 1944, the Servicemen's Readjustment Act (the policy's official name) offered a college scholarship to all those who had served in uniform, whether or not they had fought on the front lines. In the decades since, benefits have fallen far behind the cost of university tuitions, prompting Senators Jim Webb and Chuck Hagel to draft a new GI Bill that would offer soldiers full tuition at any state school...

Author: /time Magazine | Title: A Brief History Of: The GI Bill | 5/29/2008 | See Source »

...ones. Savannah has been a raw-material exporter since the days of King Cotton, and its big challenge used to be finding enough imports to fill incoming ships. Port officials solved that by persuading the likes of Wal-Mart, Home Depot and Ikea to take advantage of ample vacant land near the port (something you don't find in New York or L.A.) to build distribution centers where they could unload merchandise from overseas and ship it to stores in the U.S. Now the question is, What else can Savannah export...

Author: /time Magazine | Title: Will Exporting Ports Fix U.S. Trade Deficit? | 5/29/2008 | See Source »

...their 10 years together, Rob and Nick have not entirely left their mainstream roots; they have become favorites of the advertising world--with commissions from Absolut Vodka and Land Rover--and the celeb set, selling their work to Elton John, David Beckham and other boldface names. The pair's next project: portraits--shot with an 886-lens camera of their own design. In this partnership, the future is light...

Author: /time Magazine | Title: The Carters | 5/29/2008 | See Source »

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