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...stashed away in their central-bank vaults. The international prices of everything from crude oil to cocoa beans are denominated in dollars. The dollar is a universal medium of exchange because it is liquid, readily available and backed by the largest economy in the world. There has been little reason for global commerce to function any other way. (See pictures of the global financial crisis...

Author: /time Magazine | Title: Is the Almighty Dollar Doomed? | 4/6/2009 | See Source »

...downtown. An 80,000-seat Olympic Stadium is to be built in Washington Park, which is tucked between a middle-income neighborhood of rowhouses and a rather bleak stretch of Chicago's South Side. Officials here also will play up Chicago's extensive public transportation network, although there is reason to be skeptical about whether its train system - which is aging, prone to delays and frequently dirty - can be significantly improved in time for the Games. And being the adopted home of the leader of the free world doesn't hurt either: President Obama has long expressed support for Chicago...

Author: /time Magazine | Title: Olympics 2016: Chicago Makes Its Case | 4/5/2009 | See Source »

...aircraft to another; 49% of lost luggage were pieces that were checked through on connecting flights and never made it to the luggage carousel. Other problems included bags failing to make it on the plane in the first place (16%) and ticketing errors or security problems (13%). One reason for the decrease in lost baggage may be simply that there's less checked baggage overall, since airlines now charge you to check. Who knew: an upside to airline fees...

Author: /time Magazine | Title: Hotel Freebies: Yoga Classes and Spa Treatments | 4/5/2009 | See Source »

...This on the Safety Card? We all know how frustrating it is to be trapped on a plane on the runway, idling for hours, waiting hopelessly for lift off. Here's one reason to steel your patience: Robert McDonald, a Scottish traveler who was stuck aboard a Delta flight for more than two-and-half hours at New York City's JFK airport on March 31, had apparently lost his cool. In an attempt to deplane, McDonald allegedly yanked open the aircraft's emergency exit door while the plane was on the tarmac. The crew says it stopped him from...

Author: /time Magazine | Title: Hotel Freebies: Yoga Classes and Spa Treatments | 4/5/2009 | See Source »

American presidents have visited Turkey before but never this soon into their presidency. That's just one reason why Barack Obama's arrival this Sunday evening has all of Turkey aflutter. Turks see Obama's visit as proof of his commitment to building bridges with the Muslim world, as well as a reflection of the new administration's desire to have Turkey - with a Muslim majority but officially secular, democratic and a candidate for E.U. entry - play a much bigger role in the wider region...

Author: /time Magazine | Title: Turkey Is Ready to Welcome Obama | 4/5/2009 | See Source »

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