Word: summers
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...TIME's summer reading list...
Call it irony, call it the silver lining of a tragic death - Michael Jackson's passing has put the King of Pop back on top of the music charts. His hits have suddenly become the nostalgic sound track of summer...
...long can Detroit sustain itself when monthly sales numbers are this bad? The two bankrupt companies, Chrysler and General Motors, closed their assembly lines for much of May and June, which reduces their revenue substantially. Chrysler started up this week but will close again next week for summer changeovers. Both GM and Chrysler have built their recovery plans on very low sales estimates, which is the principal reason they have closed so many factories and discarded so many employees as they restructure. GM just announced plans to shed another 4,000 salaried employees by October, at which point it expects...
...felt the bite of the housing-market collapse, but their houses have actually inched up in value. The recession, by and large, never made it to places like Bismarck (pop. 60,000). While the local economy is hardly bulletproof, for every bit of bad news - the Bobcat plant's summer shutdowns, say - there's more than one bit of good. How about a metrowide unemployment rate that's been dropping since February and at 3.7% is now less than half the national average? (See 50 authentic American experiences...
...financial crisis continues to take its toll and travelers decide to stay closer to home this summer, Russia's small local industries suddenly find themselves struggling. Now the government is stepping in to try to keep Russia's artisanal traditions alive. Earlier this year the Russian government announced that it would buy $28.4 million worth of nesting dolls (called matryoshka in Russian), lacquered dishes, crocheted shawls, felt caps and other quintessentially Russian knickknacks to bolster the industry and try to protect the livelihoods of some 30,000 workers at around 240 companies. (See pictures of Russia celebrating Victory...