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...exports. Moscow earned a record $8.3 billion in arms sales in 2008, second in the world to the U.S., which accounts for more than 40% of global defense spending. Moscow has been particularly good at targeting buyers in the developing world. Between 2004 and 2007 Russia sold $37.9 billion worth of military equipment - outstripping even the U.S. in that period - to more than 80 developing nations on every populated continent. Russian arms manufacturers have cut deals for everything from helicopters to tanks and rifles. Among eager customers have been North Korea, Iran, China and Venezuela, which are barred from buying...

Author: /time Magazine | Title: Russia Rearms | 4/27/2009 | See Source »

...role by using its two most valuable assets - vast energy resources and mountains of military hardware - to cut a series of clever deals. In 2006, for example, then President Vladimir Putin flew a delegation of oil, gas and defense executives to Algeria. Putin negotiated to sell $7.5 billion worth of combat jets, missiles and tanks to the government, while Russian energy giants Gazprom and Lukoil secured key oil and gas concessions in the North African nation. And Putin offered an extra sweetener: he wrote off Algeria's near $5 billion Soviet-era debt. Then there was the deal Putin...

Author: /time Magazine | Title: Russia Rearms | 4/27/2009 | See Source »

...Steve Carson, who serves as president of the OpenCourseWare Consortium, says it's worth the expense, since the online content attracts prospective students, keeps alumni connected and encourages innovation. Schools have decided that these benefits outweigh the concerns about cost, intellectual property and devaluation of élite degrees. After all, the free material does not add up to a diploma, and viewers can't interact with the faculty. (See pictures of the college dorm's evolution...

Author: /time Magazine | Title: Logging On to the Ivy League | 4/27/2009 | See Source »

...company's oldest mill, located across town from the office, nearly a dozen different products are being made simultaneously. The process is complex, time-consuming and challenging. Nevertheless, manufacturing director Mitch Hensley says this specialized production process is worth the headache and is a big part of why the company has held its own in a tough manufacturing environment. "You cannot make this business work by just spinning commodity yarn, making commodity-type fabrics and competing only on price," says Hensley. "We take a market and hone it and make the highest-quality [yarn] at the lowest price...

Author: /time Magazine | Title: Spinning a New Strategy | 4/27/2009 | See Source »

Filching from the '80s body-switch parables Peggy Sue Got Married and Big in ways that are by turns perplexing, annoying and endearing, 17 Again has lessons in tow: that kids will take fatherly advice only from another teen, that a life full of compromises and defeats is still worth cherishing and that Efron can nail a tearful public declaration of hopeless love with the assurance of a young Tom Hanks. He said he wanted to act, and now he has - pretty well...

Author: /time Magazine | Title: Zac Efron: The Tweens' Dream | 4/27/2009 | See Source »

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