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...city authority "knows that during good moments, you save money," Hidetoshi Maki, deputy director-general of the Tokyo bid, told reporters in London on Feb. 5. And with the national government pledging to cover up to 50% of the venues' construction costs, "we don't think our bid plan is hugely damaged" by the slowdown, said Maki. Limiting the number of new venues helps; good maintenance of several sites used during the 1964 Tokyo Games means that 23 of the 34 venues earmarked for 2016 already exist. That's a similar proportion to London's plan, though slightly higher than...

Author: /time Magazine | Title: In Hard Times, Olympic Plans Go On a Budget | 2/10/2009 | See Source »

...Geithner's first big day as Treasury Secretary: a speech at 11 outlining the revamped bank bailout that he has redubbed the Financial Stability Plan, then an appearance before the Senate Banking Committee at 2:30 to take questions on the topic...

Author: /time Magazine | Title: Justin Fox Reviews Tim Geithner's Big Day | 2/10/2009 | See Source »

...bedecked in his lavish, though traditional, gold attire with trademark sunglasses, the leader of Libya humbly laid his head down on the table at the African Union summit in Ethiopia in a gesture of diplomatic defeat. The normally confident Gaddafi was facing stiff resistance to his newest geopolitical plan, the United States of Africa. Unsurprisingly, many African nations have reacted coolly to Gaddafi’s plans for a politically united Africa, with the relatively wealthy and stable nations of South Africa, Ethiopia, and Kenya taking a prominent role in the opposition...

Author: By Alexander R. Konrad | Title: Crowning the King of Kings | 2/10/2009 | See Source »

...Gaddafi’s high profile has immediately forced the countries of the AU to take notice. The BBC reports that his initial push has been deflected with nations set to reconvene in three months. Yet to assume Gaddafi’s plan was a simple, direct push for unification underestimates the wily dictator. Unification in Africa is now a topic that will not fade away, at least for the next year of Gaddafi’s chairmanship...

Author: By Alexander R. Konrad | Title: Crowning the King of Kings | 2/10/2009 | See Source »

...Gaddafi’s plan is especially important because of Africa’s complicated relationship with the United Nations and Europe. Many of the nations in positions to provide support and military assistance for the AU are the very nations that colonized Africa decades or centuries ago. Gaddafi’s call for a united Africa represents an African-born, African-comprised initiative...

Author: By Alexander R. Konrad | Title: Crowning the King of Kings | 2/10/2009 | See Source »

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