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...late Wednesday afternoon, Citgo and Kennedy announced a reversal. Kennedy thanked Chávez for his "genuine concern for the most vulnerable," adding a bit of political choreography for the Venezuelan's benefit: "This decision is a clear, direct message from President Chávez of his desire to strengthen relations between his country and the U.S.," he said, "particularly at this time, when a new U.S. Administration is scheduled to be sworn in within the next few weeks...

Author: /time Magazine | Title: Why Can't Big Oil Match Hugo Chávez? | 1/7/2009 | See Source »

...Postal Service's fleet - which is 220,000 vehicles strong - through the roof. (Marking one financial bright spot, those surges have since subsided.) And perhaps most biting of all are the multiple billions of dollars the agency has had to dole out annually to a prepaid retiree health-benefit fund, which was created by the Postal Act of 2006. The overall picture isn't pretty. "We actually reached that tipping point, where -" says spokesman Greg Frey, before cutting himself off to be more blunt: "Last year was a bad year...

Author: /time Magazine | Title: For the Post Office: Snow, Rain and Now Gloom of Recession | 1/7/2009 | See Source »

...good use in the U.S. than send it to OPEC. The American people have demonstrated beyond a doubt that they can and will get by with less gas if there is a compelling reason in the form of a higher price at the pump. The enormous, unstated side benefit of Kinsley's proposal is a huge step toward energy independence. Who did not enjoy seeing the OPEC ministers being forced to reduce production because of reduced demand in the U.S. and worldwide? I wonder if our elected representatives will have the courage to pursue Kinsley's idea. Richard Parins, SARASOTA...

Author: /time Magazine | Title: The List Issue: Best and Worst | 1/7/2009 | See Source »

With the national unemployment rate nearing 7 percent—a figure not seen in the U.S. since 1993—several states have seen their unemployment insurance trust funds shrink to dangerously low levels, with some states already taking out federal loans to pay unemployment benefits. But Massachusetts’ unemployment benefit system remains “strong and solvent” for the foreseeable future, bolstered by over $1 billion in trust fund reserves, according to Robb Smith, director of Policy and Planning for the Mass. Labor and Workforce Development Office. From January through November 2008, the state...

Author: By Peter F. Zhu, CRIMSON STAFF WRITER | Title: Mass. Unemployment Fund Still Solvent in Economic Recession | 1/7/2009 | See Source »

Rantissi's analysis, which seemed so perverse and bizarre in 2002, has now become conventional wisdom. Most commentators agree that while Israel's incursion into Gaza may leave Hamas deeply wounded in the short term, the militants will ultimately benefit...

Author: /time Magazine | Title: Analysis: How Hamas Wins by Losing | 1/6/2009 | See Source »

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