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...over whether bankruptcies should be regulated by the Federal Government at all. The Bankruptcy Act of 1898 expanded debt protection not just for creditors but for corporations as well, but as late as the 1970s, most highbrow firms still saw bankruptcy as an undignified fire sale. Looking to help steer more troubled companies back into the black, Congress simplified filing for both personal and corporate bankruptcy. The change got results: from 1980 to 2005, the number of bankruptcies increased sixfold. A stricter 2005 law made a dent in the number, but four years later, it's climbing once more...

Author: /time Magazine | Title: A Brief History Of: Bankruptcy | 6/15/2009 | See Source »

...Angela Merkel is very popular. She's even more popular than her own party," Oskar Niedermayer, a professor of political science at Berlin's Free University, tells TIME. "Voters are confident Merkel will be able to steer Germany through difficult times. This election result is an important psychological boost...

Author: /time Magazine | Title: European Elections: A Blow to Brown, Boost for Merkel | 6/8/2009 | See Source »

...Cosby was somewhat of a leader in his group of friends, Toffoli said. Or at least, Toffoli added, he was someone everyone knew and looked up to.Having known Cosby as a “well put together kid with his head on straight” who seemed to steer clear of “gang-like crowds,” Toffoli said the news of the shooting was all the more surprising.A Pokemon card aficionado in his childhood who once amassed an entire book of the much hyped collectibles, Cosby later channeled his energies into playing basketball and maintaining...

Author: By Athena Y. Jiang and June Q. Wu, CRIMSON STAFF WRITERSS | Title: Justin Cosby | 6/4/2009 | See Source »

...been set up to work with Project Natal. Burnout is a serious game, not just a tech demo - it's a polished, fast-paced racing game with high-end graphics, and I happen to have played a lot of it. With Project Natal, instead of using a joystick, you steer by holding your hands up in the air like you're gripping a steering wheel. To hit the gas, you move your foot forward along the floor. To brake, you move it back. To trigger the turbo boost, you do a gear-shifting, fist-pumping movement with your right...

Author: /time Magazine | Title: Microsoft Whacks the Wii: A First Look | 6/2/2009 | See Source »

...line up any better for its VEBA, which has only $1.6 billion in cash - a fact that is already raising anxiety inside the union. Chrysler is expected to get $6 billion in new federal aid as it steps out of bankruptcy court, but Chrysler/Fiat is obligated to steer just $381 million into the VEBA next year. One possible save: in a little-noted facet of the new labor contract with Fiat, the VEBA can sell its shares to the Italian automaker via a private sale in the not-too-distant future. The price hasn't been negotiated...

Author: /time Magazine | Title: Why Detroit Retirees Have Health-Care Anxiety | 5/31/2009 | See Source »

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