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Last week the answer came: an explosion that hurled Perot off the GM board of directors and into the headlines. At a session that Perot agreed to skip, the other members of the GM board voted unanimously to buy back his 11.3 million shares of company stock for $700 million. In effect, they told the brash Texan that he could take his money and his loud mouth and go away...

Author: /time Magazine | Title: Peace for a Price at GM | 1/26/2007 | See Source »

...singer owns an apartment in Manhattan, an estate in Rumson, N.J., and a home in Los Angeles. But he apparently disdains yachts, private jets and most of the trappings of the super-rich. At the Los Angeles recording session for We Are the World last year, as the other rock stars were arriving with their entourages in limousines, Springsteen strolled up alone. The Boss had flown in from a concert in Syracuse and rented a car at the airport...

Author: /time Magazine | Title: The Boss's Thunder Road to Riches | 1/26/2007 | See Source »

...events "take us back to square one," said Prime Minister Rajiv Gandhi as he addressed a tumultuous session of Parliament the next day. Indeed, the grisly bus massacre shattered New Delhi's claims that terrorism was on the wane and dimmed hopes for future political stability in the troubled northwest Indian state. Sikhs, who make up 2% of the Indian population but form a majority in Punjab, have long wanted greater autonomy from the central government in New Delhi. But even before the Indian army's bloody 1984 invasion of the Golden Temple in Amritsar, Sikhdom's holiest shrine...

Author: /time Magazine | Title: India: All the Way Back to Square One | 1/26/2007 | See Source »

Regan seems determined to stay on. He held his own session with Congressmen last week in which he claimed the President needed his services in preparing the State of the Union message and with work on the new budget. He appeared to take a certain gritty pride in toughing out the controversy. "I'm really taking the heat now," he said. "It goes with that corner office." A man who clearly cherishes power, Regan is even said to have joked last week about "people who thought they could get rid of me that easily...

Author: /time Magazine | Title: Under Heavy Fire | 1/26/2007 | See Source »

Throughout the week Senator Dole pressed for the President to call Congress back from recess for a special session to allow lawmakers to tackle the crisis immediately. The incoming Senate Majority Leader, West Virginia Democrat Robert Byrd, argued that such a session would be an "overreaction." Byrd prefers that Congress wait until January, when the new Democratic majority in the Senate could have a greater say in the proceedings. Although Dole did not get his way, his gambit spurred lawmakers to form two select congressional committees to deal with the investigation. He and Byrd will appoint a 13-member panel...

Author: /time Magazine | Title: Under Heavy Fire | 1/26/2007 | See Source »

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