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...Ponzi scheme - as anyone smart enough to engineer one knows - is a plan that is uniquely without an exit strategy. It requires a constant infusion of new investors to pay off a growing body of existing ones, and ultimately it becomes impossible to find enough suckers. When that happens, the scam collapses. Sure, you could always flee the country before the roof caves in, but many scammers don't and Madoff famously didn't. The reason lies in the personality - or, more accurately, the personality disorder - that drives them to such frauds in the first place...

Author: /time Magazine | Title: Putting Bernie Madoff On The Couch | 12/31/2008 | See Source »

...West Side. In case you're planning to attend a convention next year at New York City's Javitz Center on the West Side, the Wyndham has just opened two Garden Hotels nearby, with high-tech "Smart Chairs" designed by Michael Graves in the lobby (the chairs have swiveling tables and built-in electrical outlets and Internet ports), anti-allergy guest rooms and organic breakfasts. At the Wyndham Garden Midtown Convention Center (341 West 36th Street), rates start at $179 per night; at the Wyndham Garden Chelsea (37 West 24th Street), rates start...

Author: /time Magazine | Title: Travel News: Madrid Calling (and Other Cheap Deals) | 12/29/2008 | See Source »

...shift to renewable energy won't happen on its own - it needs smart government policies and smart technological innovations. Solar mapping is a good example of both...

Author: /time Magazine | Title: Mapping Renewable Energy, Rooftop by Rooftop | 12/22/2008 | See Source »

...they learned. They have, in effect, been babysat, kept off the streets. We gain the strongest impression of the education machinery taking a little rest before clanking onward, in the largest sense indifferent to the needs of its charges, the best efforts of its functionaries. We guess that the smart kids will come out all right finally. We also guess that none of the troubled ones will suddenly become untroubled, saved somehow from mediocrity or worse. In its appraising reserve, its avoidance of sentimentality, its insistence on the quotidian realities of the faltering educational system, The Class comes - quietly...

Author: /time Magazine | Title: The Class: A Year in the Blackboard Jungle | 12/17/2008 | See Source »

...looking for ways to tighten their belt. "Instead of sending 10 people, they'll send 7 to a convention, for fewer days." Instead of sending managers to meet with colleagues, "they'll be spending that money on sending salespeople to meet with their clients." If those salespeople are smart, they'll haggle for freebies and upgrades...

Author: /time Magazine | Title: Hotels Try to Adapt to Hard Times | 12/17/2008 | See Source »

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