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...Focused on long-term growth, corporate pension funds tend to lean heavily on stocks. More than 60% of S&P 500 firms' holdings at the start of the year were in equities. Those firms that bet most aggressively on stocks have been especially hard hit. For example, about 80% of Harley-Davidson's pension assets were invested in equities at the end of last year. Johnson & Johnson's (79% equities) and Exxon's (75%) funds have also been bruised. But the pension pain may be most acute for smaller outfits, some of whose obligations amount to more than...

Author: /time Magazine | Title: Pension Funds Weakened By Stock-Market Decline | 10/31/2008 | See Source »

Eggleston also doesn't like the term snapshot aesthetic, but from early on, just like Garry Winogrand and Lee Friedlander, he's been making pictures that are brilliantly open to the flotsam of the visible world, the little accidents of vision and oddball details that snapshots automatically gather up. He is fascinated by American junk-space, the banal stretches of tract housing and strip malls. But there's nothing camp or ironic about Eggleston's work. The power of his pictures rests on their casual but absolute sincerity, their conviction that small is beautiful. There's something very American about...

Author: /time Magazine | Title: Light Fantastic | 10/31/2008 | See Source »

...their enlightened self-interest or that employers are "slouching away from that responsibility." Costs have risen to the point that most employers cannot afford to provide insurance, and individuals cannot come up with the $27,000 a family must pay on average for annual coverage. The only long-term solution is to eliminate insurance companies through a national single-payer health plan, or "Medicare for all." Without the profit motive and with Medicare's demonstrated efficiency, enough would be saved to insure everyone. Richard K. Staggenborg, COOS...

Author: /time Magazine | Title: Financial Contagion | 10/30/2008 | See Source »

Gerard Damiano, who went by the name Jerry Gerard, effectively launched the 1970s porn-movie craze with his first feature, Deep Throat, in which the leading lady had a special talent all her own. Despite producer worries that the term was too obscure, Damiano replied, "Deep Throat will become a household word." With a budget of about $25,000 (provided by the son of a mobster) and a six-day shooting schedule, the film went on to earn tens of millions of dollars and a notorious spot in film history...

Author: /time Magazine | Title: Milestones | 10/30/2008 | See Source »

...pretty boring game featuring a pair of mediocre teams, each riding a three-game losing streak. So, in sticking with the Halloween theme, I have made my pick based on which school has the best campus legend featured on its Wikipedia page. My one and only source for term papers mentions Princeton’s “Phantom of Fine Hall…an obscure, shadowy figure that would infest Fine Hall, home to the Mathematics Department, and write complex equations on blackboards.”Even if the phantom had turned out to be John Forbes Nash, inventor...

Author: By Loren Amor, CRIMSON STAFF WRITER | Title: AROUND THE IVIES: No Ivy Mischief On ‘Day Of Dead’ | 10/30/2008 | See Source »

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