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...nation's largest employer - from executives on down - have been offered voluntary early retirement. About 5% are expected to accept: a first wave of 3,685 workers effectively retired on Dec. 31, while about 4,000 more will exit in February. Several thousand more departures are expected in March. The retirees will not be replaced. These reductions are accelerating a trend: before they began, there were already 100,000 fewer postal workers than there were about seven years ago, with automated sorting technology picking up much of the slack. Meanwhile, part-time employees will be limited to working fewer hours...

Author: /time Magazine | Title: For the Post Office: Snow, Rain and Now Gloom of Recession | 1/7/2009 | See Source »

...proclaim a national day of giving thanks - which he did, and the holiday stuck. But today's Americans may find some more recent observances to be slightly less universally appealing: Among the red-letter days proclaimed by the past few Congresses are Funeral Director and Mortician Recognition Day (March 11), the Day of the American Cowboy (July 26), Siblings Connection Day (March 1) and Corvette Day (June...

Author: /time Magazine | Title: Congressional Resolutions | 1/6/2009 | See Source »

Wonder why Chicago-based hedge fund Citadel is not allowing investors to withdraw their money until at least March? Citadel has already reported about 50% losses for its two largest funds. Remember: these are unrealized losses. If Citadel liquidated assets to pay out to investors, losses would be even greater. Barring a miracle, the first investors out would lose less than those going out later. But even in good times, the withdrawal of money from a hedge fund impinges its performance...

Author: /time Magazine | Title: The Ponzi Scheme in Every Hedge Fund | 1/5/2009 | See Source »

...lost the suitcase on my first trip to Iraq eight months ago, as Iraqi and U.S. forces clashed with radical cleric Muqtada al-Sadr's Mahdi Army, I would have been forced to wear whatever our male Iraqi security guards picked out without me. Last March, I arrived to an onslaught of rockets and mortars fired at the nearby Green Zone, along with retaliatory coalition air strikes and the near constant thunder of helicopter blades overhead. As with other foreign reporters, my movements were always calculated, and I often donned a long black abaya and head scarf. But this time...

Author: /time Magazine | Title: Baghdad Bag Claim: A (Happy) Tale of Lost Luggage | 1/5/2009 | See Source »

...Israeli officials] decided stupidly to invade Gaza, we will fight them with God's help. We will fight them like lions." -USA Today, March...

Author: /time Magazine | Title: Hamas Leader Khaled Mashaal | 1/4/2009 | See Source »

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