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...cruise industry barely made it back to port last year. Miami-based Royal Caribbean reported a 98% drop in fourth-quarter earnings. The winter months, or "wave season," are its busiest period; yet onboard traffic at many lines is down at least 25%. But the more important reason cruise lines are desperate to sell tickets is that their real revenue comes not from fares but from onboard spending. The industry's dilemma, says Carolyn Spencer Brown, editor of CruiseCritic.com, is that "if it takes fares this low to get me onboard, am I really going to spend that much...

Author: /time Magazine | Title: How to Save in the Recession? Take a Cruise | 2/24/2009 | See Source »

...king of cocaine, the prospect of doing hard time in an American penitentiary was about the only thing that made Pablo Escobar's blood run cold. Living by the motto "Better a tomb in Colombia than a prison cell in the United States," Escobar unleashed a wave of car bombings and assassinations that forced the Colombian government to water down extradition laws. Cowed officials even built Escobar a five-star jailhouse, with a Jacuzzi, discotheque and fake waterfall, for a brief stint behind bars before the drug lord was gunned down by police...

Author: /time Magazine | Title: Colombia's Drug Extraditions: Are They Worth It? | 2/24/2009 | See Source »

...economy. The details of the budget don’t take into account the possibilities of other potential measures Obama might have to take to save the economy. The current downturn was sparked by a bubble in house prices and the subprime mortgage crisis. Some economists forecast another wave of bad news over the next three years, as option ARMs and Alt-A mortgages start resetting. Other economists called for a larger stimulus package, and another might be needed in a couple of years. By highlighting the goal of halving the deficit, Obama limits his ability to react to future...

Author: By Malcolm-wiley T. Floyd | Title: DISSENT: Obama, Hoover, Maynard Keynes? | 2/23/2009 | See Source »

...persons were murdered in two terrorist bombings that leveled the Israeli Embassy and the AMIA Jewish community center in downtown Buenos Aires in the 1990s, crimes that remain unresolved by the courts to this day and that sometimes are blamed on Middle Eastern terrorists. But in recent months a wave of marches by hooded demonstrators outside the homes of Jewish citizens and calls for the boycotting of Jewish stores in some provincial cities, in response to the incidents in Gaza, have set off alarm bells ringing in the Jewish community here, which at 300,000 is the largest in Latin...

Author: /time Magazine | Title: Argentina Deports a Holocaust-Denying Bishop | 2/23/2009 | See Source »

Meanwhile, black swastikas have appeared painted on many walls of the city of Buenos Aires, including on a monument on Plaza Israel, on Figueroa Alcorta avenue, one of the city's main thoroughfares. The government has said it plans to clamp down on the wave of intolerance and Williamson's expulsion is seen as a gesture by the government to try and allay fears within Argentina's Jewish community. Rabbi Daniel Goldman, a child of Holocaust survivors who sought government action against Williamson, told the Jewish News Agency that "actions such as these clearly show that our people...

Author: /time Magazine | Title: Argentina Deports a Holocaust-Denying Bishop | 2/23/2009 | See Source »

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