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That may include the world's largest automaker--General Motors. Although GM chairman Rick Wagoner has insisted that "we don't consider bankruptcy to be a viable business strategy," some on Wall Street are skeptical, given the company's array of problems. Their view was reinforced when GM, the company that dominated the American economy through the 20th century, announced on Oct. 17 that it had reached a precedent-setting agreement with the United Auto Workers leadership to rescind $1 billion worth of health-care benefits for its retirees. If ratified by the union membership, the retrenchment will hasten...

Author: /time Magazine | Title: The Broken Promise | 10/23/2005 | See Source »

...bankruptcy, One Equity sold it to a Minnesota entrepreneur for $426 million in cash. The new managers, who had received stock in the postbankruptcy Polaroid, walked away with millions of dollars. Nasser got $12.8 million for his 1 million shares. Other executives and directors were rewarded for their efforts. Rick Lazio, a four-term Republican from West Islip, N.Y., who effectively gave up his House seat for an unsuccessful Senate run against Hillary Rodham Clinton in 2000, collected $512,675 for a brief stint as a director. That amounted to nearly twice the $282,000 paid...

Author: /time Magazine | Title: The Broken Promise | 10/23/2005 | See Source »

...high volume of racist incidents occurring within such a short time period made it difficult for the administration not to speak out, says M. Rick Turner, the UVa dean African-American Affairs...

Author: By David Zhou, CRIMSON STAFF WRITER | Title: UVa Strikes Back After Wave of Hate | 10/6/2005 | See Source »

After Sen. Rick Santorum, R-Pa., compared homosexuality to incest, bigamy, and adultery, Savage embarked on a campaign to coin a new noun, “santorum,” to be defined as “the frothy mixture of lube and fecal matter that is sometimes the product of anal sex.” But some of Savage’s antics are less innocuous. In 2000, he penetrated the presidential campaign of the Republican Gary Bauer, an outspoken opponent of gay marriage. Savage wrote a column for the online magazine Salon that, after being diagnosed with...

Author: NO WRITER ATTRIBUTED | Title: Fall Arts Preview: Readings Listings | 9/30/2005 | See Source »

...season, and maintains nine different offices in her adopted state. Except for the three days each week the Senate is in session, Obama is almost religiously in Illinois, and his staff brags about the 34 town halls he has held in his home state. Clinton frequently joins Republicans like Rick Santorum, a darling of the religious right, to work on legislation on the rare issues where they agree. (One recent bill provides $90 million to research the effects of video games on the cognitive development of children.) Obama is now working with Oklahoma Sen. Tom Coburn, one of the chamber...

Author: /time Magazine | Title: Barack Obama Steps (Carefully) Into the Spotlight | 9/28/2005 | See Source »

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