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...closed-end municipal-bond funds. The dividends on these shares, available from firms such as Nuveen, Merrill Lynch and Morgan Stanley, are generally exempt from federal income tax and some states' income tax as well. For more details, go to etfconnect.com and under MULTIFUND SEARCH, choose PREFERREDS and select FIXED INCOME--MUNICIPAL...

Author: /time Magazine | Title: The Trust-No-One Investing Plan | 6/24/2002 | See Source »

...both arms buyer and tourist over the years, Pinochet loved to visit London, home of his good friend Margaret Thatcher. His was not the garish Piccadilly of ordinary tourists, but that of wealthy conservatives - retired colonels and such, who shop for books and fine tailoring and stay at select gentlemen's clubs, sipping old whisky with like-minded right-wingers. In 1999, Pinochet made one trip too many and found himself under house arrest for 16 months, facing the threat of extradition to Spain to face torture charges over the treatment of Spaniards and others in Chile. Before Beckett...

Author: /time Magazine | Title: Friends in Need | 6/23/2002 | See Source »

...Death penalty proponents needn't worry just yet: while Thursday's decision has staggering ramifications for a select number of death penalty cases in the 20 states that still allow executions of mentally retarded prisoners, it does not affect the vast majority of prisoners waiting to be executed...

Author: /time Magazine | Title: SCOTUS Bans Executing Retarded Prisoners | 6/20/2002 | See Source »

...million cost, it might have made more in a less crowded season. A small art film can turn a profit in a few theaters, while more expensive films intended as counterprogramming must compete with blockbusters for a wider audience. Universal plans to keep About a Boy on select screens throughout the summer and pull it up to a $40 million gross by "constantly monitoring the marketplace and conditions," says Universal's vice chairman Mark Shmuger. With movies like About a Boy, this summer's marketplace has become a lot richer, especially for the ones buying tickets...

Author: /time Magazine | Title: Movies: Forget the Superheroes | 6/17/2002 | See Source »

...many observers that argument is harder to believe because of the Mahathir-Mokhtar connection, which looks very much like the so-called "crony capitalism" that stained Malaysia's economic credentials in the first place. In the 1990s, Mahathir's administration showered huge government contracts and favorable loans on a select few businessmen. The policy, which was designed to create a group of model entrepreneurs among the country's majority ethnic Malays, was criticized at home and abroad as opaque, unfair, hugely wasteful and largely ineffective. The 1997 crisis hit Mahathir's handpicked favorites particularly hard; their inefficiently run and deeply...

Author: /time Magazine | Title: Malaysia's Chosen One | 6/17/2002 | See Source »

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