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...companies remain dismissive about the financial downturn-and unprepared to seize the opportunities it presents: "Companies are still underestimating the size and scope of the economic crisis. They are generally too optimistic about their own performance and believe that they have taken sufficient steps to respond to the crisis. They often tend to be too inward-looking in their forecasts, relying on their own 2008 experience rather than fully assessing the changing external environment: managers do not like to create or accept negative plans. Consequently, although taking action, companies have not adopted the steps either to protect themselves from...

Author: /time Magazine | Title: Downplaying the Financial Crisis | 4/10/2009 | See Source »

...banking crisis may be over, but what is left is a reclamation job that will probably take years to complete, will still have a taxpayer price tag of over $1 trillion, and will leave America's largest financial firms as institutions of modest power and a regulated scope which will prevent them from looking anything like what they did two years...

Author: /time Magazine | Title: More Quickly Than It Began, The Banking Crisis Is Over | 4/10/2009 | See Source »

...postwar shape of the global financial system. He was unable to persuade his U.S. counterparts to give the institution at the heart of the new system, the IMF, the money-creation powers he envisioned. Those finally came in 1969 with the development of the SDR but remained limited in scope. No new SDRs have been created since 1981, and there are only 21.4 billion of them (equal in value to $31.9 billion...

Author: /time Magazine | Title: Why Supplanting the Dollar Would Be Good for America | 4/9/2009 | See Source »

...Washington Supremes Rule on Race In a 5-4 ruling, the Supreme Court narrowed the scope of the landmark 1965 Voting Rights Act, passed in 1965 in part to increase the number of black officeholders. The Justices ruled that the act requires states to create new voting districts only when the new district will have a minority population greater than 50%. Dissenting Justices argued that even districts without such a majority are worth creating, because they encourage the election of minority candidates with the help of concentrated minority populations and so-called crossover white voters. Later this year, the court...

Author: /time Magazine | Title: The World | 4/7/2009 | See Source »

...study is very small in scope, since the Post had a total of only 27,000 subscribers in Cincinnati and northern Kentucky. And it measures only the outcomes in northern Kentucky, since Ohio has not had municipal elections since the Post's closure. But even with those limitations, a few trends seemed to emerge: in towns the Post regularly covered, voter turnout dropped, fewer people ran for office and more incumbents were reelected. That is, when there were fewer stories about a given town, its inhabitants seemed to care less about how they're being governed. (Check out a report...

Author: /time Magazine | Title: What Happens When a Town Loses Its Newspaper? | 3/22/2009 | See Source »

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