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...speculation that bad loans might soon push the bank into insolvency, Citi's bankers who advise other companies on mergers and acquisitions are having a banner year. Through the first two months of 2009, bankers at Citi were hired to offer guidance on more of the nation's largest deals than any of its rivals, according to Dealogic, which tracks financial activity. Globally, Citi has been a part of four of the six largest deals in 2009. Its biggest score came in January when it was picked by Pfizer to be one of the drugmaker's advisors...
...reactor near Harrisburg hadn't melted down 30 years ago this Saturday...well, there probably would have been an accident somewhere else. The entire U.S. nuclear industry was melting down in the 1970s, irradiated by spectacular cost overruns, interminable delays and public outrage. Forbes later called its collapse "the largest managerial disaster in business history, a disaster on a monumental scale...
...soaring interest rates. The last nuclear plant ordered by a U.S. utility broke ground in 1973 and took 23 years to finish. The average cost overrun for a reactor approached 300%; the Washington Public Power Supply System-known as "whoops"-walked away from three plants mid-construction, triggering the largest municipal bond default in U.S. history. Even the reactor that failed at TMI was $500 million over budget and five years behind schedule. (Read the original 1979 TIME cover story on Three Mile Island...
...economic integration being advocated by Sarkozy is not exactly selfless, however; it's entirely compatible with advancing France's economic interests and its waning political influence across the continent. The DRC, which is the size of Western Europe and is the world's largest French-speaking nation, is also fantastically rich in resources, and could logically be expected to partner with France when restored stability allows economic and industrial development to begin in earnest. Exchanges between the two countries now stand at a modest $250 million per year; but that might be boosted as a result of a trip...
...real place to learn about North Korea is probably China. The country, especially the northeast, has the largest population of North Korean exiles and refugees. That fact was probably not lost on Lee and Ling. Many of the refugees get help from human rights groups. One such activist, Tim Peters, who has visited this region in the past, thinks the two American TV journalists were trying to report on the plight of stateless orphans, the offspring of trafficked North Korean women repatriated back to the North. "It's a mushrooming problem," says Peters, who notes that authorities have been making...