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...tough as many greens demanded. And it was complicated, even bloated - it would have raised $6.7 trillion over 40 years by auctioning global warming pollution permits, using great gobs of that money to buy off various interest groups. But it was significant just the same, because its six-month-long journey from environment and public works committee to Senate floor helped force some reluctant Senators to begin thinking seriously about the issue. Boxer calls the result "a road map [for] the next President, so he knows where are the consensus areas and where are the difficult areas...

Author: /time Magazine | Title: Why the Climate Bill Failed | 6/9/2008 | See Source »

When Reid's procedural vote finally came, on Friday morning, 48 Senators voted to move ahead with the debate, and 36 voted against. Boxer was happy to claim that a total of 54 were in favor of moving ahead - because six absent Senators, including Obama, McCain, Hillary Clinton, and Ted Kennedy, had written letters saying they would have voted in favor had they been present. Fifty-four would have been significant - the first time a majority of Senators voted for climate action. But 48 is the number in the Congressional Record, and it only got that high because 10 moderate...

Author: /time Magazine | Title: Why the Climate Bill Failed | 6/9/2008 | See Source »

...original version of this article stated the servicemen who raised the U.S flag over Mount Suribachi were white. One of those six, Ira Hayes, was an Arizona Pima Indian...

Author: /time Magazine | Title: Were African-Americans at Iwo Jima? | 6/9/2008 | See Source »

...assembly line workers' salaries are being outpaced by basic living costs. The result has been a rash of strikes-unusual in communist Vietnam-that are hurting the country's image as a haven for multinational companies looking for alternatives to China for manufacturing sites. Over the last six months, there have been more than 300 strikes throughout the country. Most last only a few days, with management usually agreeing to small pay increases. In April, a company that manufactures sneakers for Nike agreed to give workers a 10% increase, or about an additional $6.30 a month. But that amount...

Author: /time Magazine | Title: Vietnam's Troubled Economy | 6/9/2008 | See Source »

...Hanoi has moved to cool the economy by requiring banks to increase their reserves; the central bank has also raised interest rates to 12%. But inflation is being made worse by Vietnam's weakening national currency. The Vietnamese dong has fallen roughly 1.5% against the dollar in the past six months. But the recent dismal economic news is threatening to weaken it further. This past week the dong jumped from 16,120 to the dollar to 18,500 on the black market as traders rushed to put their dong into dollars and gold. The currency swoon makes imports, from food...

Author: /time Magazine | Title: Vietnam's Troubled Economy | 6/9/2008 | See Source »

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