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...more likely reason this may have occurred, some sources said, is the same reason the DOJ balked at granting Birkenfeld immunity in exchange for his cooperation: he apparently violated the cardinal rule of not being completely truthful with investigators about his own role in the tax evasion scheme...

Author: /time Magazine | Title: U.S. vs. Swiss Tax Cheats: A Whistleblower Ignored | 2/13/2010 | See Source »

...Vegas Sands and Genting in 2006. The hefty $10-billion price tag for the two developments underscore the vast ambitions of Singapore's leaders seeking to similarly transform the island's image from that of a staid, buttoned-up society into a fun, adventurous city. And while that may be fine for foreign tourists, analysts say the high fee to be imposed on Singaporeans who visit the casinos reflects the city-state's underlying unease at the thought of its conservative citizens turning into hard-partying gamblers - and making it difficult for operators to start profiting off their massive investments...

Author: /time Magazine | Title: With Casinos Set to Open, Singapore Rolls The Dice | 2/13/2010 | See Source »

...Such fees may help discourage gambling addicts from throwing their salaries away. But they are also likely to be a hurdle in building up the number of local gamblers and will likely force casino operators to depend more on foreign "high-rollers" to turn a profit. That strategy has its risks, analysts say. Noel-Johnson, for instance, points out that 72% of visitors to Genting's resort in the Malaysian highlands are local "day-trippers," and more than half the visitors to Macau's casinos are gamblers from Hong Kong and Guangdong province who bet with limited cash...

Author: /time Magazine | Title: With Casinos Set to Open, Singapore Rolls The Dice | 2/13/2010 | See Source »

...While the resorts may initially struggle to recoup their costs, Singapore, nevertheless, is likely to see the benefit sooner. Casinos will likely help create tens of thousands of new jobs for Singaporeans, as well as entice tourists from across Asia. "The Singapore government sees the casinos as a means to an end," explains Credit Suisse's Chan. "They want visitors to come to Singapore and spend money on entertainment and hotels and shopping, not purely on gambling." Citigroup expects the casinos to help push up visitor arrivals to 12.8 million by the end of 2011, roughly a third higher than...

Author: /time Magazine | Title: With Casinos Set to Open, Singapore Rolls The Dice | 2/13/2010 | See Source »

Worse, Kumaritashvili's death may have been preventable. Yes, luge is an inherently dangerous sport in which sliders can approach speeds reaching 90 m.p.h. The speed is part of its allure, and the rush of the event is what attracts audiences. However, throughout this week's training runs, athletes have voiced their concern about the safety of the Whistler track, which is the fastest in the world; last February, a German athlete was clocked traveling more than 95 m.p.h. during a luge World Cup test event. Over the past week, about a dozen athletes have crashed during luge training here...

Author: /time Magazine | Title: Olympics Open with Restrained, Respectful Celebration | 2/13/2010 | See Source »

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