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Business is booming for Ed Speed, which is a little odd, considering he lends money for a living. But that's the story of credit unions nowadays, including the one in southeastern Texas that Speed runs, where real estate lending has doubled over the past five weeks, and auto loans are on track to grow 40% to 60% in October...

Author: /time Magazine | Title: Bad Times for Banks Means Boom Times for Credit Unions | 10/23/2008 | See Source »

Credit unions aren't shy about having money to lend. Speed's outfit, the 126,000-member Texas Dow Employees Credit Union (TDECU), has been running TV spots since August and is doubling its ad budget for the fourth quarter. (At times, TDECU has been accused of being too aggressive: community banks, which have also been faring relatively well, and the FDIC loudly objected when one ad painted the entire banking industry as "under a dark cloud.") To meet loan demand, TDECU is borrowing from corporate credit unions and the Federal Home Loan Bank of Dallas, but even then...

Author: /time Magazine | Title: Bad Times for Banks Means Boom Times for Credit Unions | 10/23/2008 | See Source »

...Even more than the lower prices, OPEC leaders have been jolted by the lightning speed with which they have tumbled. But their influence over prices is more limited than many in Western countries believe, or OPEC members would like: OPEC members, in fact, produces only one-third of the world's oil; the rest comes from Canada, Russia, Mexico, and several smaller countries. The cartel sets production quotas for each member, but those are routinely violated by bigger players, like Saudi Arabia, whose well usually have spare capacity. "We saw that when prices went up to $145 a barrel OPEC...

Author: /time Magazine | Title: OPEC Wants You to Pay More for Gas | 10/22/2008 | See Source »

...Hitting Speed Bumps For all its worries, there's still a tremendous vibrancy in Turkey. You can see it in Istanbul, a city of 15 million, with its growing roster of expensive hotels, new upscale shopping malls - and perpetual traffic jams. But you can also find it in other parts of Turkey, in places like the Mediterranean port of Iskenderun...

Author: /time Magazine | Title: Turkey's Wild Ride | 10/22/2008 | See Source »

...This was great preparation for Saturday,” Caples said. “Princeton will be a very similar opponent to Boston College. Our speed of thought and speed of execution needs to get to this level.” —Staff writer Timothy J. Walsh can be reached at twalsh@fas.harvard.edu...

Author: By Timothy J. Walsh, CRIMSON STAFF WRITER | Title: Harvard Falls Prey to Eagles | 10/22/2008 | See Source »

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