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...recent note to clients, analyst David Hendler of research firm CreditSights wrote, "Net-net, we believe that the announced actions are considerably dilutive to the company's shareholders, yet they could put to rest the dire perception that many investors had about Fifth Third, at least...

Author: /time Magazine | Title: Banks Hand in Their Stress-Test Plans Today | 6/8/2009 | See Source »

...passport." As an undergraduate at the University of Washington, he began backpacking in Europe every summer. Within a few years, he started a one-man company leading minibus tours. He published his first guidebook in 1980; a generation later, Steves employs 80 people and has spent roughly a third of his life living out of a suitcase. (Yeah, he designs and sells those...

Author: /time Magazine | Title: Rick Steves: The Traveler's Aid | 6/8/2009 | See Source »

...initiative mess, the Bay Area Council, a 64-year-old San Francisco--area business lobby, has proposed a new California constitutional convention, an idea backed by Governor Arnold Schwarzenegger, 2010 gubernatorial candidates Meg Whitman, Gavin Newsom and Jerry Brown and, polls suggest, two-thirds of voters. The 1879 state constitution is the third longest in the world, and it has more than 500 amendments. But to gather this convention, Bay Area Council CEO Jim Wunderman has to put an initiative on the 2010 ballot. "It's ironic, right? We need an initiative," he says, "to get rid of the initiative...

Author: /time Magazine | Title: Joel Stein on California's State of Insanity | 6/8/2009 | See Source »

...This is the best month of May ever.' HELIO CASTRONEVES, race-car driver, on capturing his third Indianapolis 500 just weeks after being acquitted of tax evasion...

Author: /time Magazine | Title: Verbatim | 6/8/2009 | See Source »

...continent so often choose to thump national politicians over distinctly domestic issues. As the results of Thursday's Europe-wide poll trickled in late Sunday, nowhere was that more evident than Britain. Rounding off an abysmal week for Gordon Brown, the Prime Minister's Labour Party slumped to third in the Euro vote with just 15.7% of the vote, far behind the opposition Conservatives and trumped even by the U.K. Independence Party (UKIP), a fringe group whose singular focus is to get Britain to quit the E.U. altogether. Worse still, the far-right British National Party (BNP) picked...

Author: /time Magazine | Title: European Elections: A Blow to Brown, Boost for Merkel | 6/8/2009 | See Source »

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