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...gets its name from a section of the Internal Revenue Code that, a clever benefits consultant discovered in 1980, could be used to build tax-sheltered employee retirement plans. It was at first seen as a supplement to the existing system of workplace pensions, but during the 1990s the 401(k) largely replaced pensions in the private sector...

Author: /time Magazine | Title: Should the 401k Be Killed? | 12/4/2008 | See Source »

...Puns I note that Peter Baron, the inventor of the straw that adds flavor to a drink, was forced to call it the Sippahh because his original name, Suckahh, did not go down well in the U.S. [Nov. 24]. It occurs to me that as an Australian, he was probably keen to call his new straw, containing friendly bacteria, the Buggahh. D.C. Cardwell, Langwarrin, Victoria

Author: /time Magazine | Title: Inbox | 12/4/2008 | See Source »

...concrete. Not the cheap, gray, easily cracked, soulless stuff that gave urbanization a bad name when it was slathered over Western cities in the 1960s, but newfangled, bright - and still relatively expensive - concrete that has come onto the market this decade. High-performance or ultra-high-performance concrete, as it's known in the industry, is up to 10 times stronger than regular concrete. Although, pound-by-pound, it costs several times as much as regular concrete, industry officials say price comparisons are misleading because the high-tech versions have different properties that make them more comparable to materials such...

Author: /time Magazine | Title: Building Materials: Cementing the Future | 12/4/2008 | See Source »

...precipitously, of course, since the middle of the 20th century. Global warming may be a culprit, but simply cutting carbon emissions isn't going to keep the city from drowning. An immense and intricate flood-control system is in the works. Evocatively called MOSES, an acronym for its Italian name, the $5.3 billion project is about half done, but it's not scheduled for completion till 2014. Financing has slowed construction: at one time, Venice had to sell off some of its venerated palazzi to raise money. But, says Rafael Bras, dean of the engineering school at the University...

Author: /time Magazine | Title: The Moment | 12/4/2008 | See Source »

...work tonight.”Take it from Chiappini, who has lost hundreds at the track and has been eavesdropping on guys in jean jackets since he turned 18: there is a system. Amateurs like to bet based on the dog’s name. Sure, “Nitro Diddy” and “MJ’s Go Fast” sound quick and “Get Out Debt” may appear to be a dog for the fiscally responsible. But real pros look deeper in the night’s racing program. They...

Author: By Daniel K Bilotti and Vincent M Chiappini, CONTRIBUTING WRITERS | Title: Turkeys & Trifectas | 12/3/2008 | See Source »

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