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...Portfolio was supposed to bring the flair of Condé Nast (whose premier titles include Vogue, Vanity Fair and Glamour) to the drab, buttoned-up world of business journalism. So big-name writers and editors were lured away from prominent publications, including editor in chief Joanne Lipman, who came over from the Wall Street Journal. She got the usual Condé Nast perks: a car and driver, an office decorated in the style of her choice, business- or first-class plane tickets everywhere. (See the best magazine covers of the past year...

Author: /time Magazine | Title: Portfolio's Flameout, or How to Burn Money Fast | 4/28/2009 | See Source »

...left TIME to work on the Portfolio launch and jumped ship after the first eight months. But more daring editorial choices, like December's cover subject of Dov Charney, the controversial CEO of American Apparel, came across as ill-timed and wrong-footed. "[Newhouse's] best editors in chief all have one thing in common," wrote former staffer Paul Smalera, on the Portfolio-obsessed website Gawker.com, "which is they know how to channel and predict the predilections of their readers and turn at least a couple issues a year into can't-miss propositions. Lipman did not have this particular...

Author: /time Magazine | Title: Portfolio's Flameout, or How to Burn Money Fast | 4/28/2009 | See Source »

...latest development in Nepal's experiment with allowing former rebels to take the helm of the nation's democratically elected government, the Maoist leadership formally retracted its threat last week to sack the chief of the formerly royalist Nepal army. The move, some say, may have saved the less-than-a-year-old government from being overthrown. The intractable dispute over assimilating the former Maoist guerrillas into the army, as per the terms of the peace accord signed in November 2006, could have led to a military coup. But while the government's reconciliatory decision succeeded in keeping power...

Author: /time Magazine | Title: Nepal's Maoist Government Faces Unrest in the Ranks | 4/27/2009 | See Source »

...Indeed, the current army chief, Rookmangud Katawal, has a reputation for being a strident royalist and Maoist baiter. Katawal had been adopted by Mahendra, the father of King Gyanendra, whom the Maoists fought hard to bring down in their aim to abolish the monarchy. The army chief has long resisted the induction of the PLA into the Nepal army, and he courted trouble last November by beginning recruitment of 3,000 new soldiers before any former PLA guerrillas had been folded in - a move made without permission from the Ministry of Defense and against the provisions of the peace agreement...

Author: /time Magazine | Title: Nepal's Maoist Government Faces Unrest in the Ranks | 4/27/2009 | See Source »

...years ago. Nearly 20,000 PLA fighters have been verified by the U.N. and are ready to be inducted into the army if they meet the eligibility criteria. But that process has yet to begin, a stall that some have attributed to the opposition of the army chief and the Nepali Congress. "The fact is that the Maoists took things to the edge, and now face-saving within the party will be difficult," says journalist and Nepali Times publisher Kunda Dixit. "The problem is now not between the army and the Maoists but within the Maoists themselves...

Author: /time Magazine | Title: Nepal's Maoist Government Faces Unrest in the Ranks | 4/27/2009 | See Source »

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