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...industry agreement worked out with the UAW in 2007. That's close to the $49 an hour that workers at the transplants average and far below the $71 an hour with benefits that was the old UAW wage, and that was cited by Alabama Senator Richard Shelby as a reason to oppose any bailout. And the cost differential on enginemaking between Detroit and the transplants will narrow to a couple of dollars by 2011. "You want to just choke these guys [in Congress] and take them through the 60 plants that I've been through and see what...

Author: /time Magazine | Title: Is This Detroit's Last Winter? | 12/4/2008 | See Source »

...monetary policy seems to be divided over the best way to deal with the financial crisis. When asked about the discussion behind closed doors, Trichet would say only that the board reached a "consensus" on its decision. But consensus does not mean unanimous and there is plenty of reason to believe that some members think the ECB is going too far, too fast...

Author: /time Magazine | Title: Is Europe's Central Bank Missing the Crisis? | 12/4/2008 | See Source »

Could it really be that simple? It appears to have been for the original inhabitants of the Amazon basin. In the 16th century, Spanish explorer Francisco de Orellana wrote home describing the remarkably fertile lands he had discovered there. In the 19th century, American and Canadian geologists uncovered the reason: bands of terra preta (dark earth), which locals continued to cultivate successfully. Research revealed that the original inhabitants of the region had added charred wood and leaves - biochar - to their lands...

Author: /time Magazine | Title: Carbon: The Biochar Solution | 12/4/2008 | See Source »

...important not to be front and center on everyone's minds," says Jake Schmidt, head of international climate policy for the New York City-based Natural Resources Defense Council. "It will be a major focus." For international companies looking to invest in REDD projects, there's another reason for signing up. Not only can they bank carbon credits for future use, but there's a p.r. benefit that comes from protecting an endangered tropical forest that might not come, say, from cleaning up a chemical factory in China (even though the value to the climate is identical). That bonus appeals...

Author: /time Magazine | Title: Green Banks: Paying Countries to Keep their Trees | 12/4/2008 | See Source »

...thousand years, venice's fate has been inextricably tied to water: the city famous for its canals is even shaped like a fish, with an imposing tail bifurcating at the Isola di San Pietro. Over the centuries, the Venetians' empire-building navies gave them grandiose reason to stage an annual Marriage with the Sea--the doge on board a gilded galley flinging a ring into the lagoon in mythic matrimony. Last week, however, the sea wanted more than a ring: the Adriatic appeared to be reeling in all of Venice itself, grabbing at it with the worst floods La Serenissima...

Author: /time Magazine | Title: The Moment | 12/4/2008 | See Source »

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