Word: recentering
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...timing is terrible. In recent months, Toyota City - which boasts Detroit as a sister city - has shared some of the pain felt by its American counterpart. The region is still suffering from what locals call the Toyota shock. After the Lehman bankruptcy, when the worst of the financial crisis bit and the U.S. car market collapsed, Toyota reduced production and shed temporary workers, sending a damaging ripple through the region. The scars are clearly visible on the town's streets, riddled with closed shops and restaurants. Ryuichi Watanabe, an agent at the local branch of the Able property brokerage, says...
...President Oscar Arias, the center-right Chinchilla (pronounced cheen-chee-ya) is ushering in a new generation of leadership at a moment when Costa Rica's stature as the Switzerland of Central America is in decline. Its democracy remains the region's strongest, but it has been rocked in recent years by a spate of high-level government corruption scandals, a spike in drug-trafficking violence and a widening gap between rich and poor. Costa Rica's image as Central America's moral authority also took a hit last year when Arias - who won the 1987 Nobel Peace Prize during...
...Michelle Bachelet, is a moderate socialist; Argentina's Cristina Fernández represents her Peronist Party's left wing; and the leading candidate in this year's Brazilian presidential election, Dilma Rousseff, hails from the leftist Workers Party. At the same time, Kaufman notes, Chinchilla follows a string of recent center-right presidential victors in the region, including Sebastián Piñera in Chile and Ricardo Martinelli in Panama, after a decade of leftward inertia. "Her election sends important signals to women around the region in that regard," says Kaufman...
...Paid for, thank you very much, by the taxpayers of Vancouver. More than any other project in recent Olympic history, the $1 billion residential complex represents the risks that urban governments face when trying to host one of the world's biggest parties. The city planned to invest about $47 million in the project back in 2006. However, cost overruns and the recession forced Vancouver to step in and bail out the private developers who were charged with financing the project. The city avoided the humiliation of welcoming the world with a half-built Olympic Village, but at a great...
...Many sports fans will point to the famed Sports Illustrated jinx for hexing Vonn: the skier got the double whammy, having appeared both on a recent cover and inside the pages of its annual swimsuit issue. But she's just the latest Olympic skier to stumble out of the gate. Four years ago, Bode Miller was the American Olympic cover boy (on TIME, no less). But instead of collecting all the hardware in the Italian Alps, he partied harder than he competed and became a cultural pariah. Vonn is the anti-Bode, happily married to her skier husband and coach...