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...pockets of resistance grow, GM may not have as easy a path through a bankruptcy court as Chrysler has had. Congress may decide to have an extended debate over whether the Treasury has the right to disintermediate bondholders and union workers. If the argument goes on long enough, the auto industry's restructuring could still turn into a liquidation...

Author: /time Magazine | Title: GM: Using Taxpayer Dollars to Put Taxpayers Out of Work | 5/25/2009 | See Source »

...reawakened the long-raging political debate over a national minimum wage. Germany doesn't have a general legal minimum wage and only six sectors of the economy have a statutory rate - in the construction industry, for example, the minimum pay rate is between $12.50 and $18 an hour. Union leaders and politicians have been calling for a national minimum wage of $10.50 an hour, but Chancellor Merkel and her conservative party colleagues have refused to back down, saying a minimum wage could be counterproductive as jobs that pay less than the required minimum would be cut and that could lead...

Author: /time Magazine | Title: New Report Reveals the Depth of German Poverty | 5/25/2009 | See Source »

...Moscow has reacted angrily to Ukrainian President Viktor Yushchenko's attempts in recent years to gain NATO membership and to a recent agreement in March under which the European Union would help modernize Ukraine's aging gas-transport system. "This agreement is Exhibit A in Moscow's collection [of complaints]," says Trenin. "It's evidence that Europe is concluding bilateral deals with Ukraine that undermine Russia's interests...

Author: /time Magazine | Title: Putin to the West: Hands off Ukraine | 5/25/2009 | See Source »

...Putin is not known for his tact when speaking of Russia's western neighbor, which declared independence from the Soviet Union in 1991. In April 2008, a source told Russia's Kommersant newspaper how Putin described Ukraine to George Bush at a NATO meeting in Bucharest: "You don't understand, George, that Ukraine is not even a state. What is Ukraine? Part of its territories is Eastern Europe, but the greater part is a gift from...

Author: /time Magazine | Title: Putin to the West: Hands off Ukraine | 5/25/2009 | See Source »

...outset, Memorial Day was so closely linked with the Union cause that many Southern states refused to celebrate it. They acquiesced only after World War I, when the holiday was expanded beyond honoring fallen Civil War soldiers to recognizing Americans who died fighting in all wars. It was also renamed Memorial Day. Some critics say that by making the holiday more inclusive, however, the original focus - on, as Frederick Douglass put it, the moral clash between "slavery and freedom, barbarism and civilization" - has been lost. Most Southern states still recognize Confederate Memorial Day as an official holiday, and many celebrate...

Author: /time Magazine | Title: Memorial Day | 5/24/2009 | See Source »

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