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More broadly, what sorts of companies should we be worried about? Unfortunately, private-equity firms infiltrated almost every industry - industrials, consumer goods, retail, hospitals, utilities - so a leveraged-buyout bust will be very widespread. TXU, which is now called Energy Future Holdings, one of the largest utilities in Texas, faces huge problems. They probably won't default on their debt until 2013, but at this point, and this is according to ratings agencies, it looks like they have very little chance of paying their debt. The range is from a huge utility like that to HCA, the largest hospital chain...

Author: /time Magazine | Title: Will Private Equity Be the Next Meltdown? | 11/24/2009 | See Source »

Thomas said that the Library Task Force review follows several years of declining library resources. Last year, for example, the library faced a 15 percent budget cut, and the system’s largest unit—Harvard College Library—eliminated over 20 staff positions. HCL also eliminated duplicate print subscriptions for digitally available content...

Author: By Noah S. Rayman and Elyssa A. L. Spitzer, CRIMSON STAFF WRITERS | Title: Library Report Irks Humanities Academics | 11/24/2009 | See Source »

Sometimes it was as if the gods themselves were conspiring against this decade. On Aug. 29, 2005, near the center point in the decade, Hurricane Katrina made landfall in southeast Louisiana, killing more than 1,500 and causing $100 billion in damages. It was the largest natural disaster in our nation's history...

Author: /time Magazine | Title: The '00s: Goodbye (at Last) to the Decade from Hell | 11/24/2009 | See Source »

Hardest hit: makers of small, light and midsize jets, such as Cessna Aircraft Co. and Hawker Beechcraft. Cessna, the largest company in the category, has halved its workforce of 16,000 this year because projected 2009 deliveries were cut almost in half, to 275. "I don't think the market will bottom out until the middle of next year," projects Jack Pelton, Cessna's CEO. "Then we will slowly crawl out of this predicament when corporate earnings improve in 2011." The demonization of corporate jets by Congress, prompted initially by the CEOs of the Detroit automakers, has helped kill thousands...

Author: /time Magazine | Title: A Turboprop Built for Trouble | 11/23/2009 | See Source »

Hundreds of residents of the southern Chinese city of Guangzhou took to the streets on Monday to protest plans to build a trash incinerator in their neighborhood. In front of the municipal headquarters for one of China's largest cities, it was an unusually prominent place for a civic demonstration. And rarely has a local Chinese demonstration been so conspicuous online, where activists posted photos and comments about events as they unfolded. Those messages were then relayed to a broader audience on social networking sites like Twitter, despite its block by China's web censors. While the demonstration was local...

Author: /time Magazine | Title: China Environmental Protests Gather Force | 11/23/2009 | See Source »

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