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...only around 1 pence per share. Another investment firm, Olivant, has proposed buying a minority stake while parachuting new management in, a plan that would keep share prices at higher levels. But with the British government having already plunged billions of dollars into the bank, it will want to retain a say in any potential deal. Which means that Northern Rock shareholders might not like Branson's proposed deal, but it may prove the best offer they...

Author: /time Magazine | Title: Shareholders Balk at Virgin Bid | 11/26/2007 | See Source »

...excels by absorbing outside influences. First, France is arguably the world leader in fashion, thanks to the sharp antennae of its cosmopolitan designers. Second, French cuisine - built on the foundation of Italian and, increasingly, Asian traditions - remains the global standard. Third, French winemakers are using techniques developed abroad to retain their reputation for excellence in the face of competition from newer wine-growing regions. Tellingly, many French vines were long ago grafted onto disease-resistant rootstocks from, of all places, the U.S. "We have to take the risk of globalization," says Villa Gillet's Guy Walter. "We must welcome...

Author: /time Magazine | Title: In Search of Lost Time | 11/21/2007 | See Source »

...Although proposals for Iran to use nuclear fuel enriched outside its borders are not new, Ahmedinajad's response will certainly raise hopes of a new Iranian flexibility. But Iranian officials have previously indicated that Iran would demand that it be allowed to retain the current research-scale enrichment facilities that are at the heart of the dispute. And it's not hard to see why that would be unacceptable to the U.S. "The amount of enrichment capacity you need to feed a nuclear reactor for energy purposes is actually far greater than what you need to make one bomb...

Author: /time Magazine | Title: Iran's Nukes: Still Room for Diplomacy | 11/21/2007 | See Source »

...blaming unnatural destruction caused by natural phenomena on supernatural forces. When Perdue's spokeswoman said prayer was the answer, because "the issue at the heart of our drought is a lack of rain," she was wrong. The issue is a lack of water, and the best way to retain more is to consume less--with less lawn-sprinkling, car-washing, irrigating and sprawl. At Perdue's vigil, the Rev. Gil Watson acknowledged that "we have not been good stewards of our water," and even Perdue suggested that God was trying to "get our attention" for failing...

Author: /time Magazine | Title: Did Georgia Bring the Drought on Itself? | 11/19/2007 | See Source »

...Peter Garrett "Climate change is the greatest challenge we face." Experience: Shadow Climate Change and Environment Minister; former Australian Conservation Foundation head and rock singer A star Labor recruit in 2004, Garrett has disappointed with a series of campaign blunders that could cost him the ministry, but he'll retain appeal among young voters with his rock-star and green-crusader pedigree. Has been accused of going quiet on his convictions in an effort to tone down his radical image...

Author: /time Magazine | Title: Meet the Frontbenchers | 11/16/2007 | See Source »

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