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...Lewis looks out over the expanse of Central Park - a panoramic view he calls the most beautiful in the world - and describes the last time he exercised that skill. About a month ago, the CEO of Countrywide Financial, Angelo Mozilo, called him to ask for help. The beaten-down mortgage lender, whipping boy for everything that went wrong in last year's mortgage meltdown, was facing rumors of bankruptcy after burning through an $11.5 billion credit line. Lewis had already invested $2 billion of his company's money in Countrywide, a sum by then worth half of that...

Author: /time Magazine | Title: The Savior of Countrywide? | 1/17/2008 | See Source »

...Nowhere is it more important than in Hong Kong. China is on course to overtake Germany as the world's third largest economy. As the country prospers, it is looking beyond its borders for places to park its wealth. And Hong Kong, with its world-class financial-services sector and bustling stock market, is perfectly positioned to become China's Wall Street at the dawn of the Asian century. "We have clear advantages," says Franco Ngan, Value Partners CEO. "We're part of China. We understand the culture and speak the same language. There's a natural tendency for people...

Author: /time Magazine | Title: Beijing's Brokers | 1/17/2008 | See Source »

...complaints have become as predictable as the patter for the villain's henchmen in a Disney cartoon: Disney shows are too big, too commercial, too over-marketed - not real theater so much as bloated "theme park" extravaganzas that only children and undiscriminating tourists could love (though the criticism of Disney's last show, Mary Poppins, was somewhat different; the critics found it too heavy, not theme-parky enough.) Disney's latest offering - The Little Mermaid, based on Disney's 1989 animated hit, which opened at Broadway's Lunt-Fontanne Theatre last week - has received the usual fusillade. "Washed...

Author: /time Magazine | Title: The Little Mermaid: In Defense of Disney | 1/16/2008 | See Source »

...since the movie - written by Drew Goddard, from an idea by producer J.J. Abrams, and directed by Matt Reeves - purports to be a video document "retrieved at an incident site formerly known as Central Park" (now known as U.S. 447), and is told exclusively from the point of view of a few twentysomethings. We know only what they know, see what the videocamera sees. I.e., not much...

Author: /time Magazine | Title: Corliss on Cloverfield: The Blair Witch Reject | 1/16/2008 | See Source »

...Coca-Cola and Kellogg's. Candy maker Haribo has sold more than 6.5 billion of its jellied Smurf sweets over the past two decades, while over 10 million Smurf CDs have been sold in the last three years alone. There was also a traveling ice show, a France theme park called Big Bang Schtroumpf (as well as Smurf attractions cropping up in five U.S. and Canadian theme parks), and the smash hit The Smurf Song by Dutch singer Father Abraham reached No. 1 in 16 countries back...

Author: /time Magazine | Title: The Smurfs Are Off to Conquer the World — Again | 1/14/2008 | See Source »

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