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...downturn in sunny San Diego that poses the far bigger risk to the U.S. economy. Detroit, Cleveland and some smaller Rust Belt cities are experiencing a traditional bust, in which economic woes spread to housing. In San Diego, the housing decline seems to be a self-generated phenomenon, the product of too-high prices and too-crazy lending practices. Now the "housing market is dragging down the rest of the economy," says Alan Gin, an economist at the University of San Diego. The same is true in and around Los Angeles, San Francisco, Phoenix, Las Vegas, Miami, Washington, New York...

Author: /time Magazine | Title: Coping With a Real-Estate Bust | 9/13/2007 | See Source »

...Toronto Film Festival (TIFF) makes its impact each September by showcasing U.S. prestige product with Oscar-encrusted casts and international movies from world-class directors. It doesn't get much ink for its effort to promote Canadian movies, though heaven knows it's got a lot of them: 81 films (most of them shorts) out of the 349 on offer this year, or 23% of the entries. But the emphasis on local product is widely seen as an affirmative action project with little impact beyond its borders...

Author: /time Magazine | Title: Two Weird Canadian Geniuses at Toronto | 9/10/2007 | See Source »

...then neither can he ultimately distinguish between good and evil." He acknowledged legitimate fears that "faith in the truth might entail intolerance," but insisted that the Catholic Church espouses not a threatening truth, but one that he says "proves itself in love. It is never our property, never our product, just as love can never be produced, but only received and handed on as a gift...

Author: /time Magazine | Title: Pope Benedict Stays Lofty in Austria | 9/10/2007 | See Source »

...before Toronto: Ang Lee's steamy Lust, Caution, the Iraq war dramas Redacted and In the Valley of Elah, Woody Allen's Cassandra's Dream, the Bob Dylan fantasia I'm Not There. Clooney and Pitt stood on the red-carpeted podium outside the Sala Grande to promote their product. All the big Hollywood films were shown in Venice's first few days, so the stars and directors could return to North America and catch a breath before coming to Toronto...

Author: /time Magazine | Title: Movie Lust, Toronto-Style | 9/8/2007 | See Source »

...times--it is the stuff of books and business-school case studies--and yet I can't help reaching for the rib spreader one more time. Here was an early and definitive illustration of message revenge, the kind of fierce consumer blowback that can occur in markets when a product or service (or military occupation) fails to live up to its hype. Consumers, it turns out, regard their passive absorption of mass advertising as an investment of psychic space; to the extent that they allow themselves to become aroused with anticipation, they consider their credulity as something like a down...

Author: /time Magazine | Title: Edsel Agonistes | 9/7/2007 | See Source »

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