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Corporate fear stems in part from sliding consumer confidence, which this week hit its lowest point ever recorded. "Consumers have been impacted by a serious downturn in every form of wealth and income that supports consumer spending, and battered by high levels of volatility in their stock accounts," says Stuart Gabriel, professor of finance at UCLA's Anderson School of Management. The diminished value of stocks, falling home prices and fears about potential unemployment combine to create a negative "wealth effect," making consumers feel poorer. As a result, they spend less. Robert Hansen, professor of business administration at Dartmouth...

Author: /time Magazine | Title: A Dismal Earnings Outlook on Wall Street | 10/31/2008 | See Source »

What made it all the more challenging was that Eggleston worked in color. In 1976 serious photographers were expected to work in black and white, and most museums assumed that camera art could be made only within the palette you might find in a cinder block. And then there were Eggleston's pictures of places where no one had ever bothered to point a camera before, like the green tiled interior of an empty shower stall or the strangely mesmerizing blackness of an open kitchen oven. In 1961 photographer Robert Frank said, "You can photograph anything now." But it took...

Author: /time Magazine | Title: Light Fantastic | 10/31/2008 | See Source »

Have I been disappointed Bush didn't make any meaningful move toward cleaner, domestic natural gas as an alternative to foreign oil? Probably. But did that weigh into my Swift Boat support? Not at all. I had serious questions about [John Kerry's] military service, and he never would answer them...

Author: /time Magazine | Title: 10 Questions for T. Boone Pickens | 10/31/2008 | See Source »

...world is in need of serious leadership,” Scowcroft said at the Institute of Politics. “I mean real leadership—the convening power, the ability to get nations around common purposes and move together. We had that in the past...We don’t have that anymore...

Author: By Manning Ding, CONTRIBUTING WRITER | Title: Scowcroft Speaks On U.S. Image | 10/30/2008 | See Source »

...student asked the former national security advisor how experienced members of the current Bush administration made serious foreign policy errors...

Author: By Manning Ding, CONTRIBUTING WRITER | Title: Scowcroft Speaks On U.S. Image | 10/30/2008 | See Source »

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