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...York City hotel industry's unfortunate decision to keep building: "Occupancy tumbled roughly 15 percent from a year earlier in January, while average room rates fell 15 percent. While much of the weakness reflects softening demand, an industry contact notes that about half the decline in occupancy rates is due to new hotels opening; the total number of hotel rooms in Manhattan is expected to increase by roughly 7,000 (10%) in 2009, or more than triple the net increase...

Author: /time Magazine | Title: Fed Report Shocker: The Economy Is Still Bad | 3/5/2009 | See Source »

...could be: the deal was called off after strident objections from congressional leaders. Two years later, Beijing's fledgling sovereign wealth fund China Investment Corp. poured $3 billion into Blackstone in return for a 10% stake in the New York City - based private-equity firm, just before the bottom fell out of U.S. debt and equity markets. That deal was followed by a $5 billion purchase of a 9.9% stake in Morgan Stanley, then in the early throes of the credit crisis. Morgan Stanley's share price has since fallen by more than half...

Author: /time Magazine | Title: Buying Binge | 3/5/2009 | See Source »

...making peace is another matter. As the bombs fell on Gaza, the project's Palestinian producer, Yousef Atwa, wrote on the site's blog: "It is hardly possible to take it anymore," and let viewers know that one of the main Gaza characters, an ambulance driver called Abu Khalil, "has a broken heart" after losing a colleague in the war. On the other side, the Israeli line producer Avi Abramov wrote on the blog after the production ended that he had been called up for military duty. "This situation is absurd," he wrote. "I've just spent three months working...

Author: /time Magazine | Title: Gaza-Sderot: A Tale of Two Cities | 3/5/2009 | See Source »

...very interesting question because if I had the ability to travel back in time, with only one choice of a place to go, my answer is quite simple. I'd want to be standing on the hill overlooking where Lucy and her cohorts were living when she fell into that lake and died. I'd like to see what she looked like, though I don't think I'd want to get pretty close...

Author: /time Magazine | Title: Q&A: 'Lucy' Discoverer Donald C. Johanson | 3/4/2009 | See Source »

...sitting in the dining hall with my block mates, and we were talking about funny things we could do in Pfoho, and I just thought of having a sleepover,” says Weiss. According to her, the general response was positive, but the actual turnout fell short of her expectations. 11:54 p.m. A sudden yelp from Michael H. Oshima ’09 sends the room into panic. “Yeah, I actually like scary movies,” he says, although everyone else is too terrified to look at the screen. 12:53 a.m. After...

Author: By Sanghyeon Park, CONTRIBUTING WRITER | Title: Scene and Heard: | 3/4/2009 | See Source »

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