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...Call it a bunch of drunken sailors nursing a hangover. When AOL and Time Warner first decided to merge, the dot-com love affair was raging and the stock of the combined companies was worth $290 billion, mostly thanks to the price of AOL. By the time the stock-swap deal closed a year later, the bubble had burst, AOL was back on earth, and even though AOL had technically been the acquirer (thanks to that high stock price), the new AOL Time Warner suddenly had a relative lemon on its hands...

Author: /time Magazine | Title: What AOL Time Warner's $54 Billion Loss Means | 4/25/2002 | See Source »

When last they talked in January 2001, Israeli and Palestinian negotiators crafted a far-reaching solution. A Palestinian state would encompass all of Gaza and up to 96% of the West Bank. To make up for territory annexed to keep many settlements, Israel would swap an equal percentage of land inhabited by Arabs inside Israel. Arafat accepts the idea but rejects anything less than a solid, contiguous border. Sharon's grudging acceptance of an "eventual" Palestine never goes far beyond civil autonomy for Palestinian islets in a sea patrolled by Israeli forces...

Author: /time Magazine | Title: The Four Sticking Points | 4/22/2002 | See Source »

...Cheney and Rumsfeld. They are staunchly pro-Israel and have shown little regard for the peace process in the past. Concentrated at the Pentagon but salted all around the White House, the hard-liners have regular access to Bush. They take a dim view of the land-for-peace swap on which every peace proposal has been based for more than a decade. Every time the Administration's moderates, led by Powell, pushed Bush for a serious peace initiative in 2001, Cheney and Rumsfeld fought them to a standstill. After a while, Powell stopped pushing. Following two trips...

Author: /time Magazine | Title: Better Late Than Never | 4/15/2002 | See Source »

...Chapter 11 bankruptcy provisions in the U.S. "There are more possibilities to save the firm than under the old law," says attorney Peter Neu, who specializes in bankruptcies. "They don't have to destroy and liquidate the company." As a result, banks and other creditors may be asked to swap their outstanding loans for shares in a reborn Kirch...

Author: /time Magazine | Title: How The Mighty Fall | 4/15/2002 | See Source »

...When last they talked in January 2001, Israeli and Palestinian negotiators crafted a far-reaching solution. A Palestinian state would encompass all of Gaza and up to 96% of the West Bank. To make up for territory annexed to keep many settlements, Israel would swap an equal percentage of land inhabited by Arabs inside Israel. Arafat accepts the idea but rejects anything less than a solid, contiguous border. Sharon's grudging acceptance of an "eventual" Palestine never goes far beyond civil autonomy for Palestinian islets in a sea patrolled by Israeli forces...

Author: /time Magazine | Title: The Four Sticking Points | 4/14/2002 | See Source »

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