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...What may be of more lasting help to Europe's automakers is the billions of dollars of direct support being pledged by governments. The $3.2 billion in loan guarantees offered by the British government in January, for instance, should boost struggling carmakers' access to much-needed credit to fund areas like research and development. In London on March 11, British carmakers and banks gathered to kick-start the distribution of the loan guarantees. With car registrations forecast to slide 20% in Britain this year, the government will be hoping that it can still save its auto factories, and the jobs...

Author: /time Magazine | Title: Germany's Auto-Woes Fix: Scrap That Clunker! | 3/12/2009 | See Source »

Nevertheless, to support my false claim that I purchased and sold securities for my investment advisory clients in European markets, I caused money from the bank account of my fraudulent advisory business, located here in Manhattan, to be wire transferred to the London bank account of Madoff Securities International Limited...

Author: /time Magazine | Title: Bernard Madoff's Full Statement to U.S. District Court | 3/12/2009 | See Source »

...high schools offer laundry or shower facilities for teenagers - who are often left to fend for themselves when a family becomes homeless - as well as a secure locker for their belongings. "We've seen students put their whole lives in those lockers," says Elena Shaw, MPS's high school support liaison. (See pictures of a diverse group of American teens...

Author: /time Magazine | Title: Keeping Homeless Kids in School | 3/12/2009 | See Source »

...acknowledges that in these difficult times, plain old jobs, not stocks or real estate, are our most valuable assets. Sean Gregory writes about a new minimalist model for the shopping experience, and Bryan Walsh looks at how the suburbs are reimagining themselves now that the economy can no longer support the massive shopping centers that used to define them. Krista Mahr in Hong Kong reports on how the crunch is fueling a new kind of international trade: countries with money but little arable land are renting huge tracts from countries rich in soil but poor in cash. Alex Perry zeroes...

Author: /time Magazine | Title: Navigating the New World | 3/12/2009 | See Source »

Also at the table was Wes Mannion, head of Australia Zoo, the for-profit founded by the late Steve Irwin, the "Crocodile Hunter." The zoo had inked a deal with the government to help save the wombat, mainly through research support. "It's all about the marketing and money, mate," chimed in Mannion, an Irwin look-alike in his Aussie safari outfit. That view won over Alan Horsup, a conservation officer who spent the past two decades in an often lonely quest to pull the northern hairy-nose back from the edge of extinction. "I didn't like...

Author: /time Magazine | Title: Wombat Love | 3/12/2009 | See Source »

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