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...With unemployment rising and house prices continuing to fall, Wells' unpleasant earnings news could persist past the end of the year. Bank examiners in the recent government stress tests estimated that Wells Fargo will have as much as $86 billion in loans that go unpaid over the next two years. The bank has already put aside some money to cushion that blow - $22 billion as of the end of March - and Wells would be able to tap another $24 billion of loss provision that it set up when it acquired Wachovia. But that still leaves another $40 billion in loan...

Author: /time Magazine | Title: Has Wells Fargo Stock Run Too Far? | 5/28/2009 | See Source »

...rich nations to see things differently will require diplomatic skills that often eluded his uncle, a dour and sometimes acerbic figure who clashed publicly with the U.S. over the Balkan wars, the genocide in Rwanda and Washington's unpaid U.N. dues. "My uncle tends to more public display, he tends to be more blunt," Boutros-Ghali says. "[At the IMF] different things are at stake. I will pound my fists in a closed room; there's nothing to be gained from doing it in public...

Author: /time Magazine | Title: Boutros-Ghali's Developing Vision for the IMF | 5/25/2009 | See Source »

...following year, a 40-year-old National Archives intern stole 160 Civil War documents-including an official announcement of President Lincoln's death-and sold about half of them on eBay. Possible motivation? He told his psychiatrist he was angry the internship was unpaid...

Author: /time Magazine | Title: The National Archives | 5/21/2009 | See Source »

Bulatovic, Zoran •unpaid wages by Serbian factory owners are dramatically protested by the severing (by hacksaw) and subsequent devouring of own finger...

Author: /time Magazine | Title: Paul Slansky's Weekly Index of the News | 5/1/2009 | See Source »

...Jose, Calif., and the 82-year-old Minnesota Museum of American Art in St. Paul are gone. A $125 million expansion at the St. Louis Art Museum is on ice. The Brooklyn Philharmonic Symphony Orchestra canceled its 2009-10 season, and members of the Honolulu Symphony have gone unpaid. The lobbying group Americans for the Arts estimates that some 10,000 arts-related organizations could close this year...

Author: /time Magazine | Title: Why Businesses Are Still Giving To the Arts | 4/30/2009 | See Source »

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