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...Some eyebrows were raised in Montenegro when the government agreed to a $5 million sale price for about 62 acres (25 ha) of land and a half-mile (0.8 km) stretch of palm-shaded shoreline facing a wide bay backed by mountains. But, contends Djukanovic, "you either sell the land or buy a project. We bought a project." In addition to creating an estimated 5,000 jobs when finished, the investors agreed to clean up the waters around the site, buy out about 480 workers who lost their jobs when the shipyard shut down, and upgrade Tivat's sewage...

Author: /time Magazine | Title: Tivat: The Next Monaco | 8/20/2008 | See Source »

Four months ago, the city of West Palm Beach opened its foreclosure assistance center, a one-stop shop where staffers assist besieged homeowners by calling lenders, renegotiating loans and arranging for short-sales - that is, the bank-approved sale of a house at a price below its outstanding mortgage. The center will even help cover late mortgage payments up to $10,000. Since April, the center has received more than 5,000 phone calls or visits for help; so far, 171 homes have been saved from foreclosure, and others have received various forms of help. The county is desperate...

Author: /time Magazine | Title: Local Help for Besieged Homeowners | 8/15/2008 | See Source »

...through Khur al-Zubar is coming into Iraq rather than heading out. These days, the facility, originally built more than 30 years ago for exporting oil, takes in roughly 66,460 metric tons of fuel a month, only slightly less than the amount of oil the area pumps for sale on the world market. (Iraq, as a whole, imports roughly a fifth of its oil.) "It's a problem," says port manager Hussein Hamid al-Maliki, who's working on building another jetty to up the inflow still further. "Iraq bringing benzene and gasoline from outside? It's a joke...

Author: /time Magazine | Title: Why Iraq Is Still Oil Poor | 8/15/2008 | See Source »

Beer pong is not just the drinking game of choice for this century's twentysomething thinkers; it's a cottage industry and quasi sport with mass-market 8-ft. aluminum beer-pong tables for sale, a national tournament offering a $50,000 grand prize and a forthcoming documentary called Last Cup: Road to the World Series of Beer Pong. Top players have been known to rake in tens of thousands of dollars a year from competitions. Who says America's college grads lack marketable skills...

Author: /time Magazine | Title: Beer Pong's Big Splash | 8/7/2008 | See Source »

...long after the coup, a military-appointed committee was set up to investigate allegations of suspected corruption by Thaksin and certain members of his government. After lengthy probes, it has filed four cases with the courts. They allege that while in office, Thaksin influenced the sale of state land to his wife at a discount, gave a preferential Thai government loan to the government of Burma to buy telecoms equipment from his company, changed the laws on telecommunications concessions to increase his firm's profits at the expense of government telecom agencies, and illegally instituted a government lottery scheme using...

Author: /time Magazine | Title: Thaksin's Wife Found Guilty | 7/31/2008 | See Source »

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