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...reasons that GDP did so poorly is that capital expenditures fell at an annual rate of 38%. A fair portion of that drop was due to slow activity in the housing market. Recent figures on home sales should cause any capable analyst to believe that housing will not be a source of any hope for a recovery...

Author: /time Magazine | Title: The Fed: Things Will Get Better, If Everything Goes As Planned | 4/30/2009 | See Source »

Other states, including New Mexico and Louisiana, have long wooed producers with tax incentives. And for a few years, it seemed as if every "New York" movie was filmed in either Vancouver or Toronto. But the Canadian exchange rate doesn't favor Hollywood anymore, and Michigan's tax rebate of up to 42% for productions that hire locally is the most generous in the country. Nearly 70 movies - including Clint Eastwood's 2008 hit Gran Torino - have been shot or been scheduled to be filmed here since the state passed its tax breaks last April. In 2007 film crews spent...

Author: /time Magazine | Title: Postcard from Detroit | 4/30/2009 | See Source »

With two of the Big Three automakers on the verge of collapse and Detroit's unemployment rate a staggering 22%, the film industry is providing a rare economic boom. Community colleges now offer courses in set-building and stage-lighting for the out-of-work construction workers and electricians. Car-rental companies, caterers, hotels, carpenters, dry cleaners and other service providers are all getting a needed boost. In the suburb of Troy, 20 miles (32 km) north of Detroit, one hotel was getting ready to cut staff when Gran Torino came to town. Instead of laying people off, the hotel...

Author: /time Magazine | Title: Postcard from Detroit | 4/30/2009 | See Source »

...hungry cable companies, wireless operators and handset providers with low-cost solutions and must-have apps. These competitors and their supply chains are smarter, faster, more aggressive. And they're gobbling up business in the $1.7 trillion global market for telecom services, including traditional fixed lines, at a ferocious rate...

Author: /time Magazine | Title: Nortel's Nadir | 4/30/2009 | See Source »

...were at a trial and he were the student’s attorney, in a sense,” says Fitzsimmons, the dean of admissions. In the more widely-known part of the process, admissions officers create a reader sheet for each application, which rate the student on their academics and extracurriculars.After the subcommittee process, all the readers meet in full committee for about three weeks, and go through every school and every person, “asking again if we are sure this is a person we want to accept on April 1st,” Fitzsimmons says...

Author: By Huma N. Shah, CONTRIBUTING WRITER | Title: Don't Touch That File | 4/30/2009 | See Source »

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