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...bought stakes in chipmaker Advanced Micro Devices and private equity giant the Carlyle Group; another sovereign wealth fund, the Abu Dhabi Investment Authority, paid $7.5 billion to become Citigroup's largest shareholder; and this month the Abu Dhabi Investment Council offered $800 million for a 90% stake in Manhattan's iconic Chrysler Building, pictured above...

Author: /time Magazine | Title: Abu Dhabi: Rising Power | 7/23/2008 | See Source »

...past two years by trend watchers who were more interested in the way they dressed and the Seattle scene they came from. Style mavens fixed upon the thrift-shop wardrobe of flannel shirts and torn corduroy jackets, dubbing it the grunge look. For a fashion shoot, Vanity Fair dressed Manhattan socialites and celebrities in flannel and denim. All this exploitation made the term grunge deeply unfashionable among American youth, but bands like Pearl Jam have shaken off the label, becoming better known for their music than their baggy shorts...

Author: /time Magazine | Title: ROCK'S ANXIOUS REBELS | 7/21/2008 | See Source »

...Redford can give good suave; Debra Winger could be Audrey Hepburn (or Kate) brought down to earth. The plot ransacks honorable sources: bantering, romancing lawyers from Adam's Rib, silky threats at an art auction from North by Northwest, the murderer and his motive from Charade. The movie's Manhattan locations exploit some of the most glamorous spots in Greenwich Village and Tribeca. Wallpapering the film is the work of 37 modern artists, which was flown at great expense from New York City to Universal's California studios. A budget of $30 million and change ought to be enough...

Author: /time Magazine | Title: MURDER IN THE WORST DEGREE LEGAL EAGLES Directed by Ivan Reitman Screenplay by Jim Cash and Jack Epps Jr. | 7/21/2008 | See Source »

...talking, you know, real small talk, and he'd ask a question,'' James once recalled. ''While you were answering, he'd have turned away and was thinking about music.'' Goodman reserved most of his free time for his wife Alice (Hammond's sister) and their two children at their Manhattan apartment or Connecticut retreat. This year it appeared that he was enjoying a resurgence. In March, PBS broadcast a special for which he fronted a band and sailed through such signature tunes as Let's Dance, Stealin' Apples and King Porter Stomp. The years had not diminished him much. There...

Author: /time Magazine | Title: HE SET AMERICA SWINGING Benny Goodman: 1909-1986 | 7/21/2008 | See Source »

...Securities and Exchange Commission investigation was in full swing, along with criminal investigations by U.S. Attorney Rudolph Giuliani. No official accusations were leveled, but Ira Lee Sorkin, the SEC's New York director, disclosed that his agency has 35 insider- trading cases under investigation. Wall Street, said a senior Manhattan investment banker, ''feels like Hollywood in the McCarthy era.'' Speculation that Levine was adding new names to the scandal has been growing exponentially since the former investment wunderkind began to cooperate fully with Sorkin and Giuliani about three weeks ago. To settle charges filed by the SEC, Levine has been...

Author: /time Magazine | Title: CIRCUS TIME Wall Street reels over scandal | 7/21/2008 | See Source »

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