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...Dubai, it seemed impossible not to make money. Foreign buyers from Europe and the U.S. were flocking to the Gulf to get a slice of the oil boom and take advantage of the region's loose tax laws and resort lifestyle. Developers competed to launched one headline-grabbing mega-project after another: a ski slope inside a shopping mall, luxury skyscrapers, condos on artificial islands shaped like a giant palm tree. "It was crazy," says Khan, 25, now a marketing executive for Clifton, a real estate agency in Dubai. "Projects would sell out a couple hours after opening." He used...

Author: /time Magazine | Title: The Slump Hits the Gulf: No More Palm Islands? | 9/17/2008 | See Source »

...Arab banks are finding it harder to provide financing on their own for the often wildly ambitious real estate and development projects that had become commonplace in the region. "Every day you could open the newspaper and read about new mega-projects worth billions of dollars," says Nazem Al Kudsi, the chief executive officer for Abu Dhabi Investment Co., which is part of a sovereign wealth fund that recently bought New York's Chrysler building. "Today, there are not as many projects in the system...

Author: /time Magazine | Title: The Slump Hits the Gulf: No More Palm Islands? | 9/17/2008 | See Source »

Wallace committed suicide on Friday, at the age of 46. He might be remembered as the guy who brought footnotes back (his fiction is full of them), or the person who magnified Thomas Pynchon's reader-reaction paranoia into post-modern mega-epic. He did do those things. But Wallace was also the greatest horror novelist ever. In Infinite Jest a corporation-run unified North America of the near-future (dates have been replaced by sponsor names, such as the Year of the Trial-Size Dove Bar) is being decimated by a videotape so entertaining that people watch...

Author: /time Magazine | Title: Appreciation: David Foster Wallace 1962-2008 | 9/14/2008 | See Source »

...project was finally authorized by Congress last year. "It's just insane," says Tulane law professor Oliver Houck, who has been warning about the vanishing coast for decades. "The politicians get tears in their eyes when they talk about restoring wetlands, but at the same time they push this mega-levee system to destroy our natural protections...

Author: /time Magazine | Title: Can Louisiana Take Gustav's Punch? | 8/29/2008 | See Source »

...Obama campaign manager David Plouffe says the idea that his candidate should avoid addressing mega-crowds is ridiculous. "We feel it's one of the strengths of this campaign," he says...

Author: /time Magazine | Title: Obama's Risky Stadium Gig | 8/28/2008 | See Source »

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