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...year-old British company in August 2007 - just before the credit crunch hit - both he and Citigroup expected he'd be able to finance the $4.2 billion in debt he'd taken on to close the deal. Hands also believed he could quickly turn around EMI's long-struggling record division...

Author: /time Magazine | Title: EMI's Downfall: Will the Hits Keep Coming? | 2/9/2010 | See Source »

Meanwhile, one possible buyer lurks on the sidelines: Warner Music, the third largest record company in the world. CEO Edgar Bronfman has long coveted EMI, but mutual intransigence has thus far prevented a merger. Some Terra Firma officials fear that Citigroup simply wants to "flip" EMI by making a quick sale to Warner - a plan Citigroup denies. In its present state, however, EMI's future as an independent company is far from certain. "The trouble is that the future of EMI would look quite good if it wasn't for all the debt," Dyson says. "But it doesn't look...

Author: /time Magazine | Title: EMI's Downfall: Will the Hits Keep Coming? | 2/9/2010 | See Source »

There are illegal immigrants on the loose in the Midwest. Originally hailing from Asia, they're about 3 ft. (90 cm) long and weigh up to 100 lb. (45 kg), and are known to resist capture. Once they establish residency, they can eat you out of house and home...

Author: /time Magazine | Title: Asian Carp in the Great Lakes? This Means War! | 2/9/2010 | See Source »

...developed some pointed ideas about society, religion, and race. He decided to join the Army in early 2005, not just as a way out of his rut, but as a way to participate in what he saw as the latest flare-up of a centuries-long struggle between Western civilization and Eastern barbarism. "This is almost like a race war, like a cultural war," he said about 9/11, the March 2004 Spanish subway bombings and the now lengthening conflict in Iraq. "And anyone who is my age who is not going to go fight in it is a coward. They...

Author: /time Magazine | Title: The Downward Spiral of Private Steven Green | 2/8/2010 | See Source »

...short, China is brimming with confidence, and in recent weeks that self-confidence has turned into arrogance, with scorn for the U.S. There is a long legacy of Chinese distrust of the West. Today, Chinese nationalists cannot explicitly criticize Beijing, but they can indirectly attack the government by challenging the close relationship between the U.S. and China. For many in China, the U.S. is a corrupt nation that bears China no goodwill and will drag China down if Beijing doesn't find a way to distance itself from the American economic embrace...

Author: /time Magazine | Title: U.S.-China Friction: Why Neither Side Can Afford a Split | 2/8/2010 | See Source »

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