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...without shedding some bulk. With the government keen on keeping Japan's largest carrier in business, JAL is now set to transition into a three-year, state-backed restructuring plan. Before JAL's filing on Tuesday, Transport Minister Seiji Maehara said, "The government wants to continue to support JAL to ensure its continued stable and safe operations." The Enterprise Turnaround Initiative Corp. of Japan (ETIC), a quasi-government entity that buys the debt of troubled Japanese companies and helps turn them around, will support the airline through massive rehabilitation to transform JAL into a leaner operation. (See pictures of Japan...

Author: /time Magazine | Title: Japan Airlines Files for Bankruptcy | 1/19/2010 | See Source »

...analysts wonder if JAL can continue to grow as a business during such a massive restructuring. Yasuhiro Matsumoto, senior analyst at Shinsei Securities in Tokyo, says he's split between whether bankruptcy and ETIC help is the best path for the airline. "It's clear that there's government support, but we don't know the future of JAL's business profile," says Matsumoto...

Author: /time Magazine | Title: Japan Airlines Files for Bankruptcy | 1/19/2010 | See Source »

Reinvigorated by the President's support, King's widow, Coretta, testified before joint hearings of Congress and organized a nationwide lobby to support the bill. Yet in November 1979, Conyers' King-holiday bill was defeated in the House by just five votes. Coretta continued her fight for approval of a national holiday, testifying before Congress several more times and mobilizing governors, mayors and city council members across the nation to make the passage of a King-holiday bill part of their agenda. Singer Stevie Wonder became a prominent proponent and released the song "Happy Birthday" in 1980 - it became...

Author: /time Magazine | Title: Martin Luther King Jr. Day | 1/18/2010 | See Source »

...Arizona House Republicans including current Senator and former presidential candidate John McCain, voted against the bill in '83. The state did not vote in favor of recognizing the holiday until 1992, not only rejecting pleas from Reagan and then Arizona governor Evan Mecham but also losing the NFL's support when the league moved Super Bowl XXVII from Sun Devil Stadium, in Tempe, to California in protest. Arizona was not the only state openly contemptuous of federal law. In 2000, 17 years after the law's official passage and the same year it pulled the Confederate flag down from...

Author: /time Magazine | Title: Martin Luther King Jr. Day | 1/18/2010 | See Source »

...Rubio and his conservative backers have fixed political floodlights on a photo of Crist sharing a hug with President Obama last year as the governor welcomed federal stimulus money into Florida. But they probably won't be so eager to exploit the support Crist received from Rothstein (who, by the way, helped Crist blow out the candles on that $52,000 birthday cake), because some of those conservative boosters may well be shown to have received Rothstein's dirty largesse themselves. They could include GOP legislators in Tallahassee, where federal agents last month came calling to question politicians from both...

Author: /time Magazine | Title: Florida's Mini-Madoff: Scott Rothstein's Fall | 1/18/2010 | See Source »

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