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...July than in June - and had a nice 16% improvement in pickup sales - lavished praise on the program and pressed for its continuation. "The government's program is doing what it is designed to do - spur consumers to trade in older gas guzzlers for new, fuel-efficient vehicles," said Mark LaNeve, GM vice president for sales. The Department of Transportation confirmed the fuel-efficiency gains on Monday, Aug. 3, noting that of the 120,000 rebate applications processed so far, the cars purchased have been far more fuel-efficient than the minimum requirements to qualify for the highest rebates...

Author: /time Magazine | Title: Automakers Give Rave Reviews to 'Cash for Clunkers' | 8/4/2009 | See Source »

...first full year of production. The company anticipates sales of 200,000 in 2012, when the car will be sold globally. Richter says 200,000 is a conservative goal. But Yoshida argues that it's far from certain drivers will switch. "There's still a big question mark [regarding sales] because of consumer perception caused by the limitation of driving range...

Author: /time Magazine | Title: Nissan's New Leaf: An Electric Car and Charging Stations Too | 8/4/2009 | See Source »

...going to Harare, he tells me he is an investor. I'm curious. Zimbabwe's economy has collapsed. The government of President Robert Mugabe has destroyed the country's currency. Several million people need food aid, millions more have fled, and an outbreak of cholera - that sure mark of destitution - has killed close to 5,000 and infected 20 times that number in the past year. What's to buy in Zimbabwe? "Graves," my neighbor replies. "Private cemeteries. Other places, I'll do minerals, farms, forests. In Zim, I'm in death...

Author: /time Magazine | Title: Can a Team of (Bitter) Rivals Heal Zimbabwe? | 8/3/2009 | See Source »

...History doesn't repeat itself," Mark Twain is supposed to have said, "but it rhymes." What's happening right now is not a repetition of 1932, when the Dow Jones Industrial Average had dropped 90% from its peak three years earlier and the unemployment rate exceeded 23%. But now most definitely rhymes with then: the crash, the severe economic contraction and crisis, the graceful new Democratic President (and First Lady), the possibility of a serious reshaping of not only our economic and financial systems but the ways that Americans think about their country and themselves...

Author: /time Magazine | Title: Is China the New Us? Or Are We? | 8/3/2009 | See Source »

Each year, Italians take part in a midsummer ritual to honor the victims of the Mafia and speak out against the scourge of organized crime. From Palermo to Torino, politicians, church leaders and youth groups gather to mark the July 19, 1992, assassination of anti-Mob magistrate Paolo Borsellino, who was killed along with five bodyguards in a meticulously planned car-bombing outside his mother's apartment in the Sicilian capital...

Author: /time Magazine | Title: A Mafia Boss Breaks Silence on an Assassination | 8/3/2009 | See Source »

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