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DIED Richard Stephen Heyser, whose photos of Soviet nuclear-weapons sites ignited the Cuban missile crisis, once told the Associated Press that he was relieved not to have become the person who started World War III. As a U.S. Air Force major, Heyser flew the U-2 spy plane that took the famous pictures. Those photos prompted President John F. Kennedy to announce in October 1962 that the Soviet Union was building secret missile sites 90 miles (about 150 km) from Florida's coast. A tense standoff with the Soviets ensued. Heyser later won three Distinguished Flying Crosses...

Author: /time Magazine | Title: Milestones | 10/16/2008 | See Source »

...government guarantees should insure that interbank loan rates retreat to the point where money is moving again. With the first capital injections a few days away, loans should begin flowing easily in a matter of weeks, says Scott Talbott, chief lobbyist for Financial Services Roundtable, representing major U.S. banks. "This will open up credit immediately, and the benefit will begin to flow to small businesses shortly thereafter," he says. Every $1 of equity creates $10 in lending power. Half of the $250 billion set aside for capitalization is targeted at smaller banks. Some banks are wary of the strings attached...

Author: /time Magazine | Title: The Big Bank Bailout: Are You Next? | 10/16/2008 | See Source »

...Russia and Eastern Europe, Gazprom, based in Moscow, is the world's largest natural-gas company, providing 25% of Europe's natural gas. Another major player in Europe is Turkey's Vestel Electronics, the largest supplier of televisions on the continent...

Author: /time Magazine | Title: In the New World Disorder, Loads of Rivals for America | 10/16/2008 | See Source »

There are no equivalents to those circumstances today. The "real" economies of most major nations remain robust. No major war has disrupted international trade in more than a half-century. On the contrary, the explosion of global commerce in the past several decades has underwritten prosperity not only for developed countries but for many other nations as well--notably China, India and Brazil--lending today's world economy degrees of diversity, dynamism and resilience that simply did not exist eight decades ago. The abandonment of the gold standard has opened space for countries to adjust their monetary and fiscal regimes...

Author: /time Magazine | Title: A Historian on the Lessons of the Depression | 10/16/2008 | See Source »

...your job description.”Snider originally intended to be a lawyer, attending law school at UCLA after finishing her undergraduate studies at UPenn. Feeling distracted, tired, and unexcited by the prospects of working in a law office for the rest of her life, she did some major re-evaluating and began working in an agency mailroom. “I had a passion to not be a secretary forever. I was mindful of the customary career trajectory,” Snider said, “and I knew I had to do something remarkable...

Author: By Mia P. Walker, CONTRIBUTING WRITER | Title: Top Movie Exec Relies on Woman's Intuition | 10/16/2008 | See Source »

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