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...breakdown of negotiations for Air France-KLM to buy Alitalia has left the Italian airline closer than ever to bankruptcy. On Thursday evening, the Milan stock exchange announced that Alitalia shares will be suspended until April 8, following the public company's next board meeting. The failure of talks with Air France, also prompted yet another resignation at the top, as Alitalia chairman Maurizio Prato stepped down just seven months after taking over the troubled air carrier with the goal of facilitating its sale. Now, nothing is likely to move until after Italy's April 13-14 national elections...

Author: /time Magazine | Title: The Crack of Doom for Alitalia | 4/4/2008 | See Source »

...French-Dutch Air France-KLM was the only bidder left in an auction that began 15 months ago when Italy's Economy Ministry put its 49.9% of the debt-saddled company on the auction block. Air France Chairman Jean-Cyril Spinetta pulled out after Alitalia union representatives arrived at the table with brand new 11th hour terms after all sides had worked for weeks on a standing framework that included layoffs of around 2,100 and the closing of Alitalia's cargo division. The talks, of course, collapsed...

Author: /time Magazine | Title: The Crack of Doom for Alitalia | 4/4/2008 | See Source »

Moments later, a blond woman runs out, hands in the air. It is the informant, and the terrorists have draped her in a suicide-bomber vest. Nobody knows whether it has been timed to detonate. For several minutes she stands there, face contorted with fear. Then an officer shouts, "Take the vest off slowly!" The woman slips it off and moves across the street to safety. The noise subsides, the scenario ends, and the teaching begins. This has all been a training exercise, part of four days of urban-warfare education with nearly 250 first responders--police, firefighters, EMTS...

Author: /time Magazine | Title: Postcard: Playas | 4/3/2008 | See Source »

...campaign's storytelling phase. And as any Hollywood producer will tell you, every story gets a little better with a bar scene and some romance. As if this point might not come across otherwise, the campaign changed the pre-event soundtrack Thursday before the speech at Cecil Field Naval Air Station. Instead of the McCain road show's usual songs like U2's "City of Blinding Lights," the speakers played "Danger Zone," the Kenny Loggins pop song made famous in the film Top Gun, a story of another hot-dog naval aviator who overcame immaturity and adversity to serve...

Author: /time Magazine | Title: McCain: Loving His Misspent Youth | 4/3/2008 | See Source »

...summit and confirmed on Thursday, has alleviated immediate concerns over a fracture in the Alliance. Canada has threatened to withdraw its forces from the dangerous zone around Kandahar; the French move should allow the U.S. to redeploy more troops from the east to Kandahar and other hot spots. For Air Chief Marshall Jock Stirrup, the head of Britain's armed forces, this "sends a very important signal ... It's not just that the French are sending more troops, but it is to a very difficult area...

Author: /time Magazine | Title: NATO Spurns New Members | 4/3/2008 | See Source »

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