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...just months back. In the last few years, while the economy was projected to grow at 8% to 9%, top names in hospitality like Four Seasons and Aman were making forays into India to fill the huge supply gap in the top-end executive and leisure travel segments. Five-star room rates in key cities had grown by 40% year-on-year in 2007, and a report by Jones Lang LaSalle Hotels, the hotel investment and advisory service provider, had predicted India would need to add 150,000 new rooms in the next four years to keep up with demand...

Author: /time Magazine | Title: After Mumbai, India's Hotels Brace for a Sharp Downturn | 12/20/2008 | See Source »

...Texans prepare for the holidays, many are thankful that the state has so far dodged the recessionary bullet. With an unemployment rate of 5.6%, well below the 6.7% national rate, the Lone Star State continues to add jobs - 230,000 for the past 12 months as of the end of October. And while sales-tax receipts, a major source of revenue for state and local government, are no longer growing at double-digit rates, they were still up almost 5% in November over the same time last year. Perhaps the best holiday news for Texans, who see long-distance drives...

Author: /time Magazine | Title: Texas Braces for an Oil Bust | 12/19/2008 | See Source »

...during his college years, the gangly 6’ 5’’ “Dunk” was known more for his dogged determination to be a basketball star than for his academic pursuits—though the son of a distinguished University of Chicago psychology professor did take a year off between junior and senior year to do thesis research in Chicago, a noted rarity for someone aiming for a pro-basketball career...

Author: By Vidya B. Viswanathan, CRIMSON STAFF WRITER | Title: Obama Picks Harvard Grad for Education Secretary | 12/19/2008 | See Source »

...other Carrey movies, the star needed magical or divine intervention to change his ways: a boy's wish that his dad will tell the truth for 24 hours in Liar Liar and, in Bruce Almighty, God's command that he try being omnipotent in order to learn how tough it is to be in charge of the universe. This time it's just an excitable friend (John Michael Higgins) who drags Carl to one of those personal-help messiahs who pock the California mindscape. The word from this shock-haired swami (Terence Stamp) is "Yes." By saying yes to every...

Author: /time Magazine | Title: Yes Man and Seven Pounds: Santas for Hard Times | 12/18/2008 | See Source »

...Gabriele Muccino and written by Grant Nieporte, Seven Pounds continues a string of movies - The Pursuit of Happyness, I Am Legend, Hancock - in which Smith's characters are isolated and superior, estranged from normal life, ultimately trying to make contact with ordinary folks. It's been ages since the star flashed his charismatic smile for a whole movie. Here he speaks to people with a precise courtesy that seems learned rather than felt. Pain pulses just behind his fretted eyebrows; he carries himself like a hero too gentlemanly to show his grief, too weighed down to hide it. Those whom...

Author: /time Magazine | Title: Yes Man and Seven Pounds: Santas for Hard Times | 12/18/2008 | See Source »

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