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Amid a drumbeat of grim financial updates, two blue-chip companies announced plans for massive layoffs last week, spurring fears that the bloodletting on Wall Street could be just a prelude to deeper job cuts across the nation. American Express announced that it will slash 7,000 positions - some 10% of its staff - as part of an effort to save $1.8 billion next year as a counterweight to the rising number of consumers defaulting on their payments. Within hours of that announcement, communications giant Motorola Inc., which cut some 2,600 jobs in April, said it would trim an additional...

Author: /time Magazine | Title: Corporate Layoffs: The Worst is Yet to Come | 11/4/2008 | See Source »

...nation, Danforth warned, is in for a sharp left turn...

Author: /time Magazine | Title: Election Day Dispatches: It's Morning for the Kenyan Obamas | 11/4/2008 | See Source »

...lead other churches to city hall to vote after a Sunday worship service was just incredible to witness," he says. "We felt the mood of expectancy, hope and fulfillment of our God-given destiny to witness an African American on the verge of being elected President of this nation that was founded on racist public policies. We are hopeful that through the grace of God and through this overwhelming turnout of voters that Mr. Obama will get the mandate and become our President." - By Alison Stateman / Los Angeles and Kristin Kloberdanz / San Francisco...

Author: /time Magazine | Title: Election Day Dispatches: It's Morning for the Kenyan Obamas | 11/4/2008 | See Source »

...Florida's 25th congressional district in 2004. The 25th probably has more alligators than voters, since it stretches west from the southern suburbs of Miami clear across the Everglades. But if Barack Obama can win there today - and his prospects look surprisingly strong - then Florida, the nation's largest swing state, will most likely be a swamp for John McCain...

Author: /time Magazine | Title: Election Day Dispatches: It's Morning for the Kenyan Obamas | 11/4/2008 | See Source »

...family tree.) This is the place that briefly renamed its Senator Beer after Obama, where an Obama reggae song is insanely popular, and whose buses are plastered with Obama decals. "U.S. Poll: Why Obama is the world's choice," screamed the front-page headline from Monday's Daily Nation newspaper. "Democrat widely seen as the only leader who can change the way America relates to other countries," read the sub-head...

Author: /time Magazine | Title: Election Day Dispatches: It's Morning for the Kenyan Obamas | 11/4/2008 | See Source »

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