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What are the keys to a successful liquidation? Start with the signs. At the Circuit City near Manhattan's Lincoln Center, Fried, fresh off a nine-week job running clearance for a Mervyn's store in California, has plastered the storefront window with seven somewhat garish red and yellow posters: Store Closing Sale! Nothing Held Back! Entire Store on Sale! Inside, the discount stickers (30% off for furniture, mobile phone accessories, and cables, 20% off CDs and DVDs, 10% off everything else) and sale rules (no returns, no checks) are ubiquitous. "If we look obnoxious, we're doing our jobs...

Author: /time Magazine | Title: How Liquidators Profit from Circuit City's Loss | 1/22/2009 | See Source »

...whom he was going to vote for. But that same day, he gave an interview to Naomi Schaeffer Riley of the Wall Street Journal that left very few questions about his leanings. The Democratic Party's new platform calling for a reduction in the abortion rate was, he said, "window dressing" and "too little, too late." When Riley asked Warren about some of Obama's Evangelical supporters, he dismissed the significance of Evangelical liberals...

Author: /time Magazine | Title: Inaugural Pastor: The Two Faces of Rick Warren | 1/18/2009 | See Source »

...passed tens of billions of dollars of loans to banks and brokerages through its emergency lending window. It has lowered interest rates to zero. Treasury has put $25 billion into each of the money center banks. It is now backing over $300 billion in bad assets held by Citigroup (C) through a loss-sharing agreement. Bank of America (BAC) is getting a similar deal. The programs to back bad assets is almost certainly going to spread. (See pictures of TIME's Wall Street covers...

Author: /time Magazine | Title: Building A $1 Trillion "Bad Bank" | 1/17/2009 | See Source »

...give me goose pimples," he says. His flesh crawls at odd moments. In Wind from the Sea Wyeth opens an upstairs window in Christina Olson's house in a room that has been closed for years, and the billowing of lace curtains lets in a sudden puff of salty air. Wyeth is moved. Abruptly glimpsing his own reflection in a dusty mirror leads to an unexpected 1949 self-portrait, The Revenant, where he stands perplexed and unbalanced in an abandoned room. The amber glass ball on a lightning rod in Northern Point looks to him "as if it were...

Author: /time Magazine | Title: TIME Cover: Andrew Wyeth's World | 1/16/2009 | See Source »

...only criterion. Democrat Jim Oberstar of Minnesota, chairman of the House Committee on Transportation and Infrastructure, has suggested that shovel-ready should apply to projects that can begin within a year, not just 90 days. This would give a real boost to mass transit; a two-year window would leave even more time to make thoughtful decisions. But if Congress decides that big and fast are all that matters, get ready for a legislative version of Brewster's Millions. (See the top 10 financial collapses...

Author: /time Magazine | Title: How to Spend a Trillion Dollars | 1/15/2009 | See Source »

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