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...time-share vacation home in Hawaii, they couldn't believe the bargains. The couple had rented a two-bedroom ocean-view penthouse unit at Marriott's Ko Olina Beach Club on Oahu in 2007, liked it and resolved to watch for resales. The Furbees thought the recession might flush out some distressed sellers, but they were stunned by how far prices had plunged. "At Marriott, it was [listed] for between $50,000 and $60,000, but we paid $18,400," Gary says. He bought their time-share through SellMyTimeshareNow.com one of a number of resale sites. "We don't know...

Author: /time Magazine | Title: Sharing the Pain | 4/30/2009 | See Source »

...support of the university's Board of Regents - legislators have proposed eliminating the $327 million in funding that the state provides to the university each year. Making up the state's contribution, however, would require an endowment on the order of $16 billion, a nearly impossible task even in flush times. (Just a few years ago, the school's endowment was around $7.5 billion, but it has taken a significant hit with the fall of the stock market.) Which means that in order to survive, the university may have to make dramatic changes that could threaten its character. (See pictures...

Author: /time Magazine | Title: Cash-Strapped State Schools Being Forced to Privatize | 4/23/2009 | See Source »

...question is, Would that be a good thing? Many outside observers have argued that the financial system needs shock treatment, in which the government takes over more banks and forces the entire banking system to flush bad assets from its books. If you priced all bank assets at current market values, the banking system would be insolvent, the reasoning goes, so make them take the hit and then press restart. Those with actual banking experience, though, tend to be dubious about market pricing and counsel patience. "The banks have a lot of practice at working out troubled assets, and most...

Author: /time Magazine | Title: Hooray for Boring Banks | 4/23/2009 | See Source »

...years ago, the Chinese called it their Going Out strategy. State-owned companies in key industries were encouraged by the government to plant the flag of Chinese capitalism around the world by purchasing stakes in foreign companies. China was flush with cash and full of optimism--naive optimism, it turned out. Beijing's fledgling sovereign wealth fund China Investment Corp. poured $3 billion into New York City--based private-equity firm Blackstone in return for a 10% stake in the company--just before the bottom fell out of U.S. debt and equity markets. That deal was followed...

Author: /time Magazine | Title: Buying Binge | 4/9/2009 | See Source »

Jarre once said that in the flush of his career, he took so many assignments because he had three ex-wives and a lot of alimony to pay. The first of his marriages produced a son, Jean-Michel Jarre, a renowned composer of electronic music. But it is Papa Maurice's "Lara's Theme" from Zhivago moviegoers recall whenever they think of snow, sleds and the ache of lost love...

Author: /time Magazine | Title: Maurice Jarre | 4/7/2009 | See Source »

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