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...sales, an increasingly unstable U.S. economy and rising gasoline prices, General Motors Corp. has unleashed another huge wave of budget and financial cuts that the company's top executives described as a "self-help" plan designed to stave off any potential "liquidity crisis." The cutbacks appear to involve every level of GM's operations, including shedding the Hummer and decreasing its support for NASCAR. Said GM's chairman and chief executive officer Richard Wagoner: "Conditions are extremely unsettled. We're trying to protect the enterprise long-term. We're going to have to ride this out for a while...

Author: /time Magazine | Title: General Motors' Garage Sale | 7/15/2008 | See Source »

Wagoner said the cuts are based on very conservative assumptions that oil prices will hover in the $130-to-$150-per-bbl. range through 2009, while car sales will fall to an annual rate of about 14 million units this year and next - a level last seen during the recession of the 1990s, when GM controlled just under one-third of the U.S. market. GM is still the nation's largest carmaker, but its market share is down to about 22% and its stock price has dropped to its lowest level in more than half a century, having fallen from...

Author: /time Magazine | Title: General Motors' Garage Sale | 7/15/2008 | See Source »

...more effective diet than the one you're on now. And if you're wondering whether Dean Ornish's low-fat diet will help you shed pounds better than Dr. Atkins' low-carb menu, the answer is simple: it doesn't matter. Scientists know that on a molecular level, different types of starch and different types of fat have varying effects when they hit the body. But in terms of weight loss, low-fat diets and low-carb diets overall are equally effective (and, most of the time, neither will help you keep the weight off long-term), says Walter...

Author: /time Magazine | Title: Which Are Worse: Calories from Carbs or Fat? | 7/15/2008 | See Source »

...year for nearly a 100 years. And the knee was still perfect - there was absolutely no arthritis. How could this be? Only by virtue of being alive. The living joint has all sorts of intricate self-repair machinery, machinery that works to undo damage - right down to the molecular level. And, frankly, it doesn't usually work as well as it did in that patient. But its there in all living things - an automatic machinery that works against the laws of nature. We can call it hypercomplexity, or fearful and wondrous manufacture, but no one who works closely with...

Author: /time Magazine | Title: This Aquatic Life | 7/15/2008 | See Source »

That has not stopped the Muslim Brotherhood, an outlawed, socially conservative Islamist party, from winning one-fifth of the seats in parliament with its members running as unaffiliated independents. Despite the legal roadblocks - Cairo decries the MB's history of terror - the party has proven popular at the grassroots level (its social organizations provide education and health services in the communities that the government does not reach). And so, when seats in what were presumably MB strongholds became vacant in 2005, the government found several legal reasons to postpone elections. Until last weekend...

Author: /time Magazine | Title: Mubarak Asserts Control in Egypt | 7/15/2008 | See Source »

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