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...London-based unit largely responsible for the company's debacle involving bad bets insuring mortgage-backed securities. Overall, however, three separate, AIG-wide retention and bonus payments due to start later in March will spread some $1.2 billion among roughly 6,400 of the firm's 116,00 staff. Seven people at the financial products unit are in line for more than $3 million in extra 2008 compensation...

Author: /time Magazine | Title: Obama's Challenge: Containing the AIG Bonus Outrage | 3/16/2009 | See Source »

Trading Stocks. Cash in your worthless Wall Street stocks for a Caribbean vacation. Elite Island Resorts will accept your devalued portfolio as payment for stays this year at any of their seven seaside properties. The resort will take up to $5,000 worth of any of the 400 stocks - including bank, retail and tech stocks - listed on its website and give you credit based on the stock's worth as of Oct. 31, 2008. The deal lasts through...

Author: /time Magazine | Title: Unemployment Special: Travel Steals and Freebies | 3/16/2009 | See Source »

Recession Reprieve. Antigua's all-inclusive Curtain Bluff resort is offering a full refund to visitors who book a vacation, then lose their job. The "Life Interruption" policy asks that you give the hotel seven days' notice when canceling; the offer can be applied to bookings through Dec. 31. Currently the hotel is giving away a fifth night free with four-night stays, good for reservations from April 15 to July 30. Rates start at $925 per night, with all meals, drinks and activities included...

Author: /time Magazine | Title: Unemployment Special: Travel Steals and Freebies | 3/16/2009 | See Source »

...ancient artifacts by watching the Tomb Raider movies would find little practical help from Angelina Jolie traipsing around Cambodia's temples. If you're an online-literature buff in China, you might have better luck. Last spring, an unemployed 45-year-old man and his seven accomplices were arrested by police after having successfully dug up artifacts from a 15th century tomb just outside Beijing. Their techniques, as the police soon found out, were an exact imitation of those described in Ghost Blows Out the Light, a hugely popular Chinese online novel that was first published...

Author: /time Magazine | Title: Avoiding Censors, Chinese Authors Go Online | 3/16/2009 | See Source »

...soft-spoken 34-year-old, Hou studied Chinese literature while at university in Beijing and worked as an editor at Sina.com, a major Chinese Web portal, for seven years before starting Shanda in 2005. He describes the company - in which budding writers self-publish their work without having to be vetted by editors - as not only a profitable business, but also an extension of his own literary aspirations. "I believe everyone can be a writer," he says. "Especially now, when the Internet really has become part of our lives...

Author: /time Magazine | Title: Avoiding Censors, Chinese Authors Go Online | 3/16/2009 | See Source »

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