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...Europe's leaders also worry that Bush and his veteran advisers haven't awakened to the changes in the European Union since his dad was President. No longer just a trade pact, it now has its own currency and has embarked upon building a rapid reaction force of 60,000 troops, partly to enlist popular backing for the increased defense spending Washington wants too. "It's not just an economic and financial zone, but an ensemble of countries that want to unite in order to manage their affairs better and play a role in international affairs," says a senior French...

Author: /time Magazine | Title: What Kind of Allies? | 3/5/2001 | See Source »

...Despite what you may have heard, that check is not a refund - it's an extremely high-interest loan. And according to U.S. District Court Judge Raymond Jackson, the nation's largest income-tax preparation company has been acting "maliciously, willfully and in bad faith" by advertising its Rapid Refund service to its customers, when in fact the company was simply handing out loans in the amount of the customer's tax refund. Some of those customers paid dearly for the perceived convenience of their "rapid refund," paying annual percentage rates as high as 500 percent...

Author: /time Magazine | Title: Judge Takes a Chip Off the Old H&R Block | 2/28/2001 | See Source »

...ruling, handed down Monday in Norfolk, Va., bars H&R Block from using misleading copy to advertise the Rapid Refund service, and orders the company to pay $500,000 to the local competitor that brought the suit. Judge Jackson gave Block until March 9 to come up with new advertising copy to replace what he called "offensive" terminology...

Author: /time Magazine | Title: Judge Takes a Chip Off the Old H&R Block | 2/28/2001 | See Source »

...clear at periscope depth of about 60 ft., Waddle directed the sub to dive to about 400 ft. Once there, the skipper ordered the blow. A pair of landlubbers--overseen by sailors--had their hands on the controls that guide the submarine and empty its ballast tanks during the rapid ascent. But it was physics, not civilians, that shot the submarine to the surface. The Ehime Maru--half as long as the 360-ft. sub and only 7% of the weight--didn't stand a chance. The impact only scratched the submarine's hull. Although the public of both Japan...

Author: /time Magazine | Title: Driving Blind | 2/26/2001 | See Source »

...Navy headquarters, senior officers were flabbergasted by the disaster and privately were quick to blame Waddle. Although 16 civilians were aboard, they did little more than "pretend to drive" the submarine during the rapid ascent drill, Navy officers said. Waddle and his crew were still responsible for scouring the surface with their sonar and periscope before launching the "emergency main ballast blow." The choppy waters and the ship's white color may have made detecting the trawler difficult. But Navy officers said that if, as the trawler's crew said, their vessel was steaming at 11 knots, it should have...

Author: /time Magazine | Title: Driving Blind | 2/26/2001 | See Source »

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