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While it costs only $200 to file a proposed initiative, the work of collecting enough signatures is another matter. Putting a measure on the ballot requires money, which places the most powerful interest groups in the driver's seat. Qualifying a measure in California often costs more than $1 million, with initiatives for a constitutional amendment requiring 8% of the votes cast in the last gubernatorial election, or 694,354 signatures, and a proposed law requiring 5%, or 433,971. The signatures must be gathered in 150 days...

Author: /time Magazine | Title: How the Initiative Culture Broke California | 2/26/2010 | See Source »

...response to the layers of initiatives that have made California government increasingly dysfunctional, the Bay Area Council business group announced a plan last year to put an initiative on the ballot to hold a new constitutional convention. But two weeks ago, its Reform California campaign ran out of money. One reason: Kimball's firm and others, fearing such a convention might change the initiative business, warned their contractors against carrying the petitions. Very few of the signature gatherers at the shopping malls across California are volunteers; nearly all are contractors like Birch, working for firms hired by the state...

Author: /time Magazine | Title: How the Initiative Culture Broke California | 2/26/2010 | See Source »

...were a lot of things with memories attached that I just either threw out or left behind," the 33-year-old says. Blessitt ended up purchasing new towels and linens when she moved into her new place, as well as big-ticket items like a bed, desk and dresser - money she would have much rather saved...

Author: /time Magazine | Title: In Britain, a Gift Registry for Divorces | 2/26/2010 | See Source »

...least some kernel of truth to them. "They are correct to say there has been massive short-selling against the euro," says Iain Begg, an associate fellow at the London think tank Chatham House. "Speculation is what markets are about. It is simply an opportunity to make money. Financial markets are amoral, feral beasts. If they see a weakness, they go for it. And Greece was seen as weak." He admits that the role of Goldman Sachs and other major banks in helping Greece disguise its mounting debts - which U.S. Federal Reserve Chairman Ben Bernanke pledged on Thursday...

Author: /time Magazine | Title: What Caused the Euro Crisis? | 2/26/2010 | See Source »

Thaksin, who recently claimed in a newspaper interview that he was down to the last $100 million or $200 million of his fortune, though he has an unknown amount of money stashed overseas, had urged his supporters earlier Friday to accept the court's decision, whatever it might be. He spoke via video from an undisclosed location, having fled the country in 2008 rather than serve a two-year prison sentence for an earlier conviction on conflict of interest charges involving the sale of government land to his wife. He also told supporters that if the ruling went against...

Author: /time Magazine | Title: Thailand's Ousted Leader: A Billionaire No More | 2/26/2010 | See Source »

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