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Lyudinovo's woes are not exceptional. The markets of the huge exporting firms that are the foundation of Russia's recent prosperity have suddenly dried up, and that's having an immediate effect on machinery makers and other manufacturers...

Author: /time Magazine | Title: Russia: The Trouble with Putinomics | 2/5/2009 | See Source »

Russia needs foreign companies to plug a huge hole in Putin's economic policies. During his first term, Putin introduced modern tax and corporation laws. But he failed to spur the development of a business infrastructure that would enable Russia to shake its overreliance on energy and metals. Now, as the crisis starts to bite, the Kremlin is reacting by increasing its control over broad swaths of the economy. Through the state-controlled banks, it is bailing out selected business executives who are having trouble paying their debts--including Oleg Deripaska, a metals tycoon who until recently was Russia...

Author: /time Magazine | Title: Russia: The Trouble with Putinomics | 2/5/2009 | See Source »

...Holder faces huge challenges and a ticking clock as the nation's top lawyer. The most urgent is how to implement President Barack Obama's decision to close the brig at Guantánamo in a year and try some 250 alleged terrorists who have been kept there indefinitely. Some of their cases are so sensitive that presenting evidence in open court could compromise national security. As details of Bush-era practices on rendition, torture and wiretapping become known, Holder will have to rewrite some of the most secret rules of engagement used by the U.S. against al-Qaeda while balancing...

Author: /time Magazine | Title: The Prosecutor | 2/5/2009 | See Source »

...more, a consensus seems to have emerged among the world's finance ministers and central-bank bosses that the chief underlying cause of the crisis was an unbalanced and out-of-control system of global capital flows in which some big-spender countries (namely the U.S.) ran up huge debts while big savers (China and India, for example) hoarded surpluses...

Author: /time Magazine | Title: New World Order | 2/5/2009 | See Source »

...more than 50 companies--including GE, Goldman Sachs and our own mother ship, Time Warner--that are exploring how employers can hang on to the people they can least afford to lose. Especially when companies need to reinvent themselves to survive, she warns, they can't afford the huge costs associated with stressed-out talent: "It's not good for the bottom line," she says, "and it's not good for individuals." The Harvard Business Review looked at a survey of what happened in companies that went through layoffs of even 1% of the workforce: among the surviving workers, they...

Author: /time Magazine | Title: Married to the Job, or Each Other? | 2/5/2009 | See Source »

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