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Faced with a combination of falling sales, an increasingly unstable U.S. economy and rising gasoline prices, General Motors Corp. has unleashed another huge wave of budget and financial cuts that the company's top executives described as a "self-help" plan designed to stave off any potential "liquidity crisis." The cutbacks appear to involve every level of GM's operations, including shedding the Hummer and decreasing its support for NASCAR. Said GM's chairman and chief executive officer Richard Wagoner: "Conditions are extremely unsettled. We're trying to protect the enterprise long-term. We're going to have to ride...

Author: /time Magazine | Title: General Motors' Garage Sale | 7/15/2008 | See Source »

...that may not be enough to make a difference in 2008. But Barr's running mate, Wayne Allyn Root, says the party can ride a wave of new followers into the next election cycle. Just three years ago, after all, he wrote a book called Millionaire Republican: Why Rich Republicans Get Rich--and How You Can Too! If he can convert, he says, anyone...

Author: /time Magazine | Title: Libertarians: A (Not So) Lunatic Fringe | 7/10/2008 | See Source »

Until the present wave of backpackers began to arrive, the most notable visitor to the area of Agnes Water, an idyllic village on Australia's Queensland coast, was James Cook, who sailed by 238 years ago. During his epic journey of discovery Down Under, the then Lieutenant Cook passed the headland that locals now call "the Point" and on May 24, 1770, he anchored H.M. Bark Endeavour just under two miles (3.2 km) off the coast and led a small landing party ashore. They poked around what is now the burgeoning (and quaintly named) Town of 1770, at the mouth...

Author: /time Magazine | Title: Sea Change | 7/9/2008 | See Source »

...Democratic political machine. The New Deal had cemented their loyalty to the party, but those ties began to fray in the late '60s and early '70s as many Catholics felt alienated by everything from the Roe v. Wade decision to urban busing initiatives. Kmiec was part of the wave of Reagan Democrats who were drawn to the Republican President's policies and vision...

Author: /time Magazine | Title: The Battle for Catholic Voters | 7/2/2008 | See Source »

...steady gay scene has slowly evolved in most metro cities including Delhi, and mainstream magazines like Time Out list gay socials. "Even smaller cities have a thriving gay scene today," says Monga, "It happens on the quiet, but it's there. Attitudes have definitely changed. If you don't wave your sexuality in people's faces, they let you be. There are jokes sometimes, but no organized anti-queer violence as in the West." But, as Bhan admits, there may be greater resistance in future as the movement becomes more widespread and successful...

Author: /time Magazine | Title: Gay Pride Delhi-Style | 6/29/2008 | See Source »

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