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Defining the parameters of this new normal is not something that can be done with pinpoint precision. I started paying attention to the news (and subscribing to Time) during another period of economic turmoil, the late 1970s, and soon became convinced that I would never know a world in which gas was affordable, inflation wasn't in double digits and jobs were anything but scarce. Then the 1980s and '90s happened. So there is a danger in extrapolating present conditions to the future--and the U.S. economy has a wonderful penchant for surprising us all to the upside. But here...
Saying energy prices would stay high was one of the great forecasting errors of the late 1970s and early '80s--so it's a little scary to predict that they will stay high this time around. But the fact that even the slightest hint of a turnaround in the global economy has sent oil prices skyrocketing from $35 a barrel to more than $70 ought to be a sign that the upward price cycle that started a decade ago isn't played out yet. The crucial element may be that the struggling U.S. no longer drives the global demand cycle...
...micromanager. He declined to be interviewed, but in a first-person account of the Fiat turnaround published in Harvard Business Review, he talked about how he had abandoned the "Great Man model of leadership" that long characterized the Italian firm. Fiat's Great Man was the late Gianni Agnelli, grandson of founder Giovanni, whose family was nothing short of Italian industrial royalty and still controls the firm...
Amanda Knox has finally spoken. Ever since the 21-year-old American student was arrested in Italy in late 2007 and charged with the grisly murder of her British roommate Meredith Kercher, tabloids on both sides of the Atlantic have bubbled with scandal and speculation. Was she, as Italian and British reports suggest, a promiscuous party girl who lived like a slob and took strange men back to the house? Did she, as Italian prosecutors allege, cut Kercher's throat after she refused to take part in group sex with Knox; Knox's boyfriend at the time, Raffaele Sollecito...
...Thembi in 2004, when she was 19. I gave her a tape recorder to document her life and her struggle with AIDS. Over the course of a year, Thembi recorded many of her most intimate moments: interviews with her family and friends, late-night dancing with her boyfriend, the sounds of her baby Onwabo and the moment when she told her father she had AIDS...