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...over AOL Time Warner in 2003, the media conglomerate was $27 billion in debt and the Securities & Exchange Commission had taken a keen interest in America Online's premerger accounting practices - basically, the company was the Wall Street equivalent of the dorky kid whom nobody sat next to at lunch. Parsons had some success at Time Warner - he removed 'AOL' from the company's name and streamlined its business practices - but by the time he stepped down in 2008 the media behemoth was still saddled with underperforming departments and a stagnant share price. The question now is, what...

Author: /time Magazine | Title: Citigroup Chairman Richard Parsons | 1/21/2009 | See Source »

...down the walkway on Inauguration morning was a heartening image. The paterfamilias of the Kennedy political dynasty had billed the campaign of Barack Obama as his own crusade, perhaps his last given his battle with brain cancer. But Kennedy's image of apparent health was shattered during a celebratory lunch that took place in the Capitol's Statuary Hall in honor of the new President...

Author: /time Magazine | Title: Ted Kennedy Suffers Seizure at Inaugural | 1/20/2009 | See Source »

...While It's Hot. New York Restaurant Week continues. Catch a $24.07 lunch at Danny Meyer's Eleven Madison Park (11 Madison Avenue; 212-889-0905) or a $35 dinner at the 170-year-old financial district institution Delmonico's Steak House (56 Beaver Street; 212-509-1144) while you can. It's back to business as usual...

Author: /time Magazine | Title: Best Deals and Destinations | 1/16/2009 | See Source »

Everything he did that March 4 conveyed confidence and a break from what he called foolish tradition. Following a hot-dog lunch at the White House, the new President, in holiday mood, beamed indiscriminately as Al Smith, cowboy star Tom Mix and six miles of jubilant Democrats paraded past his reviewing stand. Just a day after a decidedly unpleasant Red Room tea with the Hoovers, Roosevelt returned to the same room to greet 13 children on crutches, emissaries of hope from Warm Springs, Ga. Declaring, "It is my intention to inaugurate precedents like this from time to time," he looked...

Author: /time Magazine | Title: The Ghosts of '33 | 1/15/2009 | See Source »

...www.rareteacompany.com) sources and sells exclusive, uncommonly tasty teas from Asia and Africa. It was on a business trip to Asia in 2000 that Lovell, a former project manager, discovered her passion for a superior sip. "In China, businesspeople would show off by buying a $120 pot of tea at lunch," she says. "I'd never tasted anything like it." Made from leaves grown and processed on small mountain gardens, those exquisite infusions were far removed from the bland British teabag - which can contain leaves from up to 60 factory farms. "I realized that Britain was drinking the equivalent of blended...

Author: /time Magazine | Title: Storming the Teacup | 1/14/2009 | See Source »

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