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...never thought I'd be agreeing with Republican Senator Richard Shelby from Alabama, but my assessment of the current bank bailout conforms with his response: No! Invest in infrastructure, home weatherization, worker-retraining, green-collar jobs and whatever will move us away from our oil addiction. Rather than doubling down on our already obscene national debt, we should face up to letting the chips fall and reorganizing our lives and economy around a sustainable paradigm. Bruce Garver, MURRIETA, CALIF...

Author: /time Magazine | Title: Heroes of the Planet | 10/15/2008 | See Source »

...central Dublin late last month, some 9,000 people - from plumbers to bankers - gathered with a common purpose: finding a new job. Almost all "were skilled, professional people," says Stephen McLarnon, who runs the firm that put on the event, and they were "looking to make a committed move." And a long-distance one. At the Down Under Expo, a forum for recruitment agencies and immigration officials, the prize for job hunters was a new start, not in Ireland, but in Australia or New Zealand...

Author: /time Magazine | Title: Postcards from Europe's Financial Bust | 10/15/2008 | See Source »

...past year, weakening Ireland's construction industry, which plays an outsized role in the country's economy. Throw in frozen credit markets, high inflation, soaring unemployment and a new tax to pay for the financial crisis bailout, and it's little wonder Ireland's workers are again pondering a move abroad. Dublin's Economic and Social Research Institute, a think tank, forecasts a net migratory outflow of 30,000 in 2009, the highest rate for 20 years. The stalled economy, McLarnon says, has "created a sense of urgency...

Author: /time Magazine | Title: Postcards from Europe's Financial Bust | 10/15/2008 | See Source »

...days ago, a panicked former economics student from the west of Ireland wondered if it might be time for her to leave the country, too. Unable to land a financial-services job in Ireland since graduating in May, this 24-year-old woman is now considering a move to England. "I haven't given up yet," she says, but "all options are open." Inside the cavernous hall hosting the fair, recruiters - from big banks to software makers - offer candy to graduates willing to chat. Getting them to stay in Ireland may soon require a little more persuasion. - by Adam Smith...

Author: /time Magazine | Title: Postcards from Europe's Financial Bust | 10/15/2008 | See Source »

Opel was one of the first Western firms to move east to Eisenach after the Berlin Wall fell in 1989, and it pulled an army of suppliers and service companies in its wake. On Adam Opel Street, Lear Corporation makes seats for the Corsa, while parts makers Mitec AG and Robert Bosch are across town. Uwe Laubach, head of the local chapter of the IG Metall union, says as many as 900 temporary workers in the local auto industry have lost their jobs in recent weeks. "The situation is dramatic," says Michael Lison, head of the industry association Automotive...

Author: /time Magazine | Title: Postcards from Europe's Financial Bust | 10/15/2008 | See Source »

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