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...from an average of almost 500 permits a month in 2007. Housing prices have deflated with a deafening groan. Keith Schwer, who runs the Center for Business and Economic Research at the University of Nevada-Las Vegas, estimates that 50% of homeowners owe more than what their home is worth. Perhaps the only positive note is that housing prices have returned to more reasonable levels. "We're getting back into the affordability range," Schwer says. "The only problem is we don't have credit to buy them, and we're losing jobs." (See pictures of Las Vegas...

Author: /time Magazine | Title: The Good Times Stop Rolling: Vegas Meets the Recession | 12/29/2008 | See Source »

...amazed that Saporito made no mention of the Big Three's most obvious and most easily remedied failure: clueless marketing. Consider that GM, arguably the world's biggest car company, is worth far less today than Harley-Davidson, the world's fourth largest motorcycle maker. Dexter Ford, MANHATTAN BEACH, CALIF...

Author: /time Magazine | Title: The Road to Mumbai's Tragedy | 12/29/2008 | See Source »

Hilton, Paris •front door of mansion of is carelessly left open by - because really, what does anything matter, really? - allowing thief to stroll in and steal $2 million worth of jewelry from...

Author: /time Magazine | Title: Paul Slansky's Weekly Index of the News | 12/26/2008 | See Source »

...destination doesn't have to be extreme to be meaningful - sometimes the company is the main attraction. On Jill Valeri's 40th birthday, her husband told her to pack three days worth of clothes and be ready to go at 3 p.m. Then he whisked her away from their suburban Maryland home to New York City, where they lived when they first met. He had already arranged childcare, asked his wife's boss to give her a couple days off and hatched a plan with her sister, whom his wife hadn't seen in over a year...

Author: /time Magazine | Title: Love Your Partner? Send Him Away! | 12/26/2008 | See Source »

...Became the first woman to win the Profiles in Courage Award from the John F. Kennedy Library Foundation. Solis donated the $25,000 award to local environmental groups and, after some debate, decided to keep the second part of the prize, a silver lantern worth $10,000, as the California Fair Political Practices Commission ruled that accepting it would not violate the state's conflict-of-interest laws...

Author: /time Magazine | Title: Labor Secretary: Hilda Solis | 12/22/2008 | See Source »

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