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...favorite son and Kangxi's most beloved grandson, became the Qianlong Emperor in 1736 when he was 24. He abdicated 60 years later, not wanting the length of his reign to eclipse that of his grandfather. During that time, he consolidated the Qing empire, strengthened the bureaucracy, improved tax collection and amassed one of the greatest art collections of all time...

Author: /time Magazine | Title: The Art Of Power | 11/20/2005 | See Source »

...much of Continental Europe, online gambling is bringing unwanted competition to state-owned monopolies, which provide a hefty chunk of tax revenue to national treasuries every year. In Sweden, as much as half the nation's fixed-odds betting has moved from the state monopoly to an online firm based in Malta. The U.S. is losing about $7 billion a year by prohibiting Internet-gambling companies, says Las Vegas attorney Anthony Cabot. Says Eugene Christiansen, chief executive of Christiansen Capital Advisors, based in New Gloucester, Maine: "They have to stand by and watch British and other countries' companies eat their...

Author: /time Magazine | Title: Investing: How the U.S. Is Getting Beat in Online Gambling | 11/20/2005 | See Source »

That juicy meal is being shared by PartyGaming and a fast-growing number of competitors. They have names such as 888.com Betandwin.com and Empire Online, and are mainly based in exotic, low-tax jurisdictions such as Gibraltar, Malta or Canada's Kahnawakee Mohawk Indian reservation. Says Richard Segal, an experienced British casino executive who joined PartyGaming as CEO last year and sold more than $15 million worth of stock in the June IPO: "It's like bees around the honeypot...

Author: /time Magazine | Title: Investing: How the U.S. Is Getting Beat in Online Gambling | 11/20/2005 | See Source »

...tax base has been shredded, forcing New Orleans to limp along on about a quarter of its usual income of $400 million to $500 million per year. The city has lost an estimated $1.5 million a day in tourism revenues since Katrina, and only a quarter of the 3,400 restaurants are open. Moody's has lowered the city's credit rating from investment grade to junk. The latest insult? The nation's flood-insurance program ran out of money for the first time since its founding in 1968, and some insurers temporarily stopped issuing checks...

Author: /time Magazine | Title: New Orleans Today: It's Worse Than You Think | 11/20/2005 | See Source »

...Blois native who was so taken aback by project rioting in late 2000 that he led a law-and-order campaign for mayor that unseated long-time office holder, Socialist Jack Lang in March 2001. Though Perruchot has also mounted urban renovation programs to improve public housing, and used tax exemptions to lure business and jobs out to the projects, he says he was elected on promises to restore order, by residents of the city center and northern banlieue alike. "I went out myself and was horrified to see to what degree the state had withdrawn, law had shrunk away...

Author: /time Magazine | Title: French 'Troubles' Reach Tourist Mecca | 11/18/2005 | See Source »

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