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...resources, and if they need to, they can always go back to the UAW for help," Cole said. Rod Lache, an analyst for Deutsche Bank, agreed, saying, "It looks like [GM's] cost structure is pretty competitive." But, he said, "where they're at a disadvantage versus other mass-market automakers is in pricing." Buyers won't pay as much for a GM vehicle as they will for a Toyota or Honda. GM stock dipped immediately after the announcement before climbing back to around $10 by mid-afternoon...

Author: /time Magazine | Title: General Motors' Garage Sale | 7/15/2008 | See Source »

...visitors - more than 125,000 from overseas and 100,000 from around Australia - are in Sydney for World Youth Day, a week-long celebration of Catholic faith that will culminate July 21 in a Mass on the city's Randwick Racecourse. On Monday, while Pope Benedict XVI recovered from jet lag in a rural retreat, throngs chanted hymns and took turns carrying a 12-foot (3.8-m) wooden cross through the city's streets. In St. Mary's Cathedral, people lit candles and knelt to pray before a casket holding the remains of Italian youth worker Pier Giorgio Frassati, which...

Author: /time Magazine | Title: The Papal Invasion of Australia | 7/14/2008 | See Source »

...Pope has said he wants his visit to help revitalize the Catholic faith in Australia. Fewer than one in five of the country's 5 million Catholics attends mass regularly; among twentysomethings the rate is about 7%. After plummeting in the 1970s and '80s, the number of priestly vocations is growing steadily, but the average age of priests is still nearly 60. And the Church is under attack for refusing to ordain women or condone homosexual behavior as well as for its handling of cases of sexual abuse by priests and brothers. Protesters have prepared their own World Youth...

Author: /time Magazine | Title: The Papal Invasion of Australia | 7/14/2008 | See Source »

...city in the wake of the Allied bombardment. The Allies' refusal to abandon the city to the Soviets, demonstrated most dramatically during the Berlin airlift of 1948, endeared a generation of Berliners to the U.S. When Kennedy arrived in Berlin in 1962, the city was gripped by something approaching mass hysteria; Kennedy later confided that had he called on the throng - an estimated 750,000 witnessed his "Ich bin ein Berliner" speech at Schoenberg City Hall - to tear down the Wall, they would have done...

Author: /time Magazine | Title: Obama's Brandenburg Concerto | 7/12/2008 | See Source »

...hours before it was announced, seems stung by the Department of Health's parachuting into his trench. "This was presented to us fait accompli," he says. "It was a slap in the face." He also suspects Bronx residents will bristle at the selection of their borough as the first mass-testing site. "There's still a tremendous amount of distrust in minority communities about people from outside coming in and saying, 'This is what's best for you,'" he says. Still, some 50 community-based organizations in the Bronx have signed up to be "initiative partners," and the city says...

Author: /time Magazine | Title: A Battle in the Bronx Over HIV Testing | 7/11/2008 | See Source »

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