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...Around the same time, Occidental was having problems. In the late 1960s the company bought Hooker Chemical Co. in a effort to diversify. But in the 1970s, allegations surfaced that toxic waste that Hooker dumped into the ground during the 1940s and early '50s was causing severe health problems in Niagara's Love Canal neighborhood. Oxy Pete needed cash to shore up this and other problems, and its CEO, Armand Hammer - flamboyant, powerful and ultimately corrupt - came up with a solution: raid the retirement kitty. Amazingly, this was legal at the time, and Hammer wasn't alone in doing...

Author: /time Magazine | Title: Why It's Time to Retire the 401(k) | 10/9/2009 | See Source »

...comes to poor on-time performance. New York generated both the worst arrival delay percentages (30.0%) and one of the worst departure delay percentages (21.7%). New York also ranked as the worst metropolitan area when it comes to average arrival delay time for flights landing at least 15 minutes late (nearly 69 minutes...

Author: /time Magazine | Title: Why Air Travel Is About to Get Worse | 10/9/2009 | See Source »

...magnets are now in the midst of the long cooling process back towards absolute zero temperatures, and the LHC is slated to be turned on again late this year or in early...

Author: By Alissa M D'gama and Huma N. Shah, CRIMSON STAFF WRITERS | Title: Physicists Wait for ‘Surprises’ of LHC | 10/9/2009 | See Source »

...Such a scenario is, of course, the stuff of an anti-Berlusconi filmmaker's vivid imagination. But reality may be inching toward fiction. The Italian Constitutional Court's decision late Wednesday to overturn an immunity-from-prosecution law risks setting off a high-stakes showdown between the 73-year-old Prime Minister and an array of antagonists, real and imagined. (See Silvio Berlusconi's worst gaffes...

Author: /time Magazine | Title: Scandal-Hit Berlusconi Must Face Criminal Charges | 10/8/2009 | See Source »

...film director Roman Polanski. Just two weeks after his impassioned protest of Polanski's Sept. 26 arrest, French Culture Minister Frédéric Mitterrand finds himself under attack for his description of sex during trips to Thailand, which critics called sex tourism. Mitterrand, the nephew of late socialist President François Mitterrand, wrote about sex trips in a 2005 novel, detailing paying "boys" for sex. At the time the book was printed, the publisher's official description of La Mauvaise Vie (The Bad Life) unabashedly said the main character "greatly resembles" Mitterrand. Now detractors are using those...

Author: /time Magazine | Title: Mitterrand: A Friend to Polanski — and Young Boys? | 10/8/2009 | See Source »

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