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...problem is already massive. When the value of a house is less than its mortgage, a homeowner can't sell and pay off his debt. If a house becomes unaffordable - because of job loss, say, or an adjusting mortgage interest rate - the homeowner is trapped. Underwater borrowers are more likely to default on their mortgages than those with positive equity. (See a chart showing metropolitan areas with the highest percentage of underwater borrowers...

Author: /time Magazine | Title: Half of All Mortgage Holders Expected to Be Underwater | 8/5/2009 | See Source »

...help mix cooler water with warm, and disperse salts, nutrients and pollutants across the various layers of the ocean, which is critical to the strength of ocean currents and the health of the marine ecosystems. Although ocean-mixing is largely attributed to winds and ocean tides, scientists say those factors cannot account for all the energy required to power, for example, the complete circulation of cold and warm water between the earth's poles and equator. The authors of the Nature paper write that marine activity of the kind they describe may be a "significant contributor to ocean-mixing...

Author: /time Magazine | Title: Churning Ocean Waters, One Jellyfish at a Time | 8/5/2009 | See Source »

...oceanographers familiar with the subject say research into ocean-mixing is only just beginning and that it's too early to make such assertions. "I appreciate what they [the Caltech team] are saying, but taking experiments of one particular event and extrapolating it to a global scale is always problematic," says oceanographer Andre Visser of the Technical University of Denmark...

Author: /time Magazine | Title: Churning Ocean Waters, One Jellyfish at a Time | 8/5/2009 | See Source »

...Problems to Fix Six years on, though, the project is already three years behind schedule, $2 billion over the initial $4.2 billion budget, and the focus of international arbitration and other legal wranglings as TVO, Areva and other companies involved seek compensation for escalating costs. Analysts say many of the problems stem from Areva's impossibly low bid. "Though getting the world's first third-generation reactor completed will give Areva some big advantages over rivals, the Finnish project has cost it a lot in terms of credibility, and a lot of people are looking on saying: 'You mean...

Author: /time Magazine | Title: Areva's Field of Dreams | 8/5/2009 | See Source »

...Spinetta, chairman of Air France-KLM, backing most of her positions - even if plans for a public offering of shares in Areva, something for which Lauvergeon has long lobbied, have now been dropped. "About the only thing she hasn't gotten her way on is hearing [President] Nicolas Sarkozy say 'O.K., let's float this company,' " Elias says. "Apart from that, though, we're seeing further confirmation that she's one of the best managers in the industrial world...

Author: /time Magazine | Title: Areva's Field of Dreams | 8/5/2009 | See Source »

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