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...officials, chief operating officer John Bovenzi and Dallas-based assistant director Rick Hoffman, to Pasadena, Calif., to run the bank. Bovenzi became IndyMac's CEO. Hoffman took on the role of president. For Bovenzi and Hoffman, cost-cutting was high on their agenda. They slashed the rate the bank was paying on certificates of deposit. Expensive perks were out as well - the government even sold off the company's Dodgers and Lakers season tickets. A company Porsche fetched $65,000 on Autotrader.com. Also gone are many of the artworks in the elevator lobby and the high-priced office furniture...

Author: /time Magazine | Title: Nationalized Banks: Why They Might Work | 3/6/2009 | See Source »

...economy is losing between 600,000 and 750,000 jobs every month by every measure that the government and analysts use. This rate of job losses may go on for a relatively long period. This trend can cause people to believe that trying to find a job is hopeless and that the tidal wave of the recession will overflow the financial mooring of every person who has ever worked or may want to work again...

Author: /time Magazine | Title: Despite Rising Unemployment, Here's the Economics Of Hope | 3/6/2009 | See Source »

...Cambridge charges $7.56 in tax per $1,000 of residential property value, the lowest rate in the Boston area...

Author: By Sarah J. Howland, CRIMSON STAFF WRITER | Title: City Faces Budget Cuts | 3/5/2009 | See Source »

...there is a ground zero for both problems, it is Texas, where I grew up and where my parents and brothers still live. About 1 in 4 Texans is uninsured, the highest rate in the country. The vast majority of the uninsured - 8 in 10 - live in households in which someone works, typically for a small business. But only 37% of Texas companies with fewer than 50 employees offer medical coverage...

Author: /time Magazine | Title: The Health-Care Crisis Hits Home | 3/5/2009 | See Source »

...cost of Scotland's alcohol problem is not only directed at the public purse - the Scots have the highest rate for cirrhosis of the liver in Europe and one of the worst alcohol-related death rates. Rising murder and crime figures are also linked to drink. A study conducted for the Scottish Prison Service between 1979 and 2007 and published this year discovered that alcohol use had soared, with 79.6% of the young inmates surveyed in the final year claiming alcohol as a contributing factor in their offenses, compared with 47.9% in 1979. Respondents reporting that they had been drunk...

Author: /time Magazine | Title: Nation o' Drinkers: Scotland Takes on Alcohol Abuse | 3/5/2009 | See Source »

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