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...Many of those investments have lost money. The preferred shares the government purchased don't trade, but many of the Treasury-assisted banks already have existing preferred shares that do. And preferred-share experts say the stock that was issued to the government would likely carry similar prices to the company's existing offerings. What's more, the government has the right to trade its shares whenever it wants. If it were to do that now, it would surely be out taxpayer money...

Author: /time Magazine | Title: Treasury Investments Already $16 Billion in the Red | 12/11/2008 | See Source »

...Golden Globes are overseen by the Hollywood Foreign Press Association (HFPA), an organization with roots dating back to the 1940s when a group of Los Angeles-based overseas writers formed to share industry contacts and information. At the time of its founding the organization was hardly a novel concept, following in the wake of both the defunct Hollywood Association of Foreign Correspondents and the Foreign Press Society. But after they dissolved, a group of journalists led by a correspondent for Britain's Daily Mail launched the HFPA in 1943. The founding motto: "Unity Without Discrimination of Religion or Race...

Author: /time Magazine | Title: The Golden Globes | 12/10/2008 | See Source »

...Brussels tomorrow, when French President Nicolas Sarkozy will attempt to cajole his fellow leaders into agreeing on an ambitious package of emission-cutting measures. The so-called 20-20-20 plan aims to reduce 20% of greenhouse gases by 2020, compared with 1990 levels, raise renewable energy's share of the market to 20% and cut overall energy consumption by 20%. (Read TIME's Heroes of the Environment...

Author: /time Magazine | Title: Is Europe Getting Cold Feet on Climate Change? | 12/10/2008 | See Source »

...even when the consequences of those operations are socially beneficial. Our basic political assumptions about the interface between the private and public spheres of interest require these corporations to formally support the work of the common good through the mechanism of taxes. This is a mechanism that has its share of functional problems. But it is the best mechanism we have, and Americans—including most academics—have come to accept corporate taxation as a generally positive policy. One can hardly imagine President Faust petitioning the government to slash Microsoft’s tax rates...

Author: By Garrett G.D. Nelson | Title: Taxes and Duties of the Private University | 12/10/2008 | See Source »

...protection to terrorists, especially the Afghan Taliban. The Karzai government will have to end its corruption and close down the drug trade. There are plenty of other reforms necessary - the international humanitarian effort is a shabby, self-righteous mess; some of our NATO allies aren't carrying their share of the military burden - but the war will remain a bloody stalemate at best as long as jihadis come across the border from Pakistan and the drug trade flourishes...

Author: /time Magazine | Title: The Aimless War | 12/10/2008 | See Source »

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