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...Hong Kong dropped 5.5%, its biggest percentage loss since Sept. 11, 2001. India's benchmark shed 7.4%. In Europe, Britain fell 5.5%, France 6.8%, and Germany 7.2%. Brazilian stocks dropped 6.6% and Canada's main index lost 4.8%. In the U.S., markets were closed for the Martin Luther King Jr. holiday, but when they reopened on Jan. 22, the Dow industrials promptly shed 300 points, joining the sell-off that continued overseas, forcing trading to be suspended in India and South Korea...

Author: /time Magazine | Title: Why the US Economy Still Matters | 1/22/2008 | See Source »

...seemed a worthy idea at the time: Last January, two competing Atlanta radio stations - one with a predominantly black audience and another with mostly white listeners - would throw a joint "unity party" at a nightclub in Martin Luther King's hometown, on the eve of his birthday holiday. The goal was to bring people of different races together for a night of exuberant partying. Seconds after the simulcast announcement by morning show hosts Frank Ski of V-103 FM and Bert Weiss of Q100-FM, the phone lines at both stations lit up with calls of support from listeners frustrated...

Author: /time Magazine | Title: MLK's Dream Doesn't Reach his Hometown's Dance Floors | 1/18/2008 | See Source »

...into "white night," while "hip-hop night" means "black night." Some club owners and event promoters have tried with, at best, limited success to buck the status quo. Ski plans to open his own nightclub later this year where he hopes to draw more mixed crowds. But, like Dr. King, they have learned that major change is accomplished not in sprints but rather in baby steps. Even on the dance floor...

Author: /time Magazine | Title: MLK's Dream Doesn't Reach his Hometown's Dance Floors | 1/18/2008 | See Source »

...those fans who almost lost their minds when it was reported in 2002 that King would retire, don't worry. King's age and his residence in the Sunshine State are not signs that he's thinking about calling it quits. His next book of short stories, Unnatural Acts of Intercourse, will come out this fall or next spring, and he's working on a "novel that's going to be very long. I'll be killing a lot of trees if it gets done." Still, he's pretty clear-eyed about his new life. "I think [Florida is] where...

Author: /time Magazine | Title: King's New Realm | 1/17/2008 | See Source »

...commitment to racial loyalty would, for Obama, unjustifiably jeopardize key white support. Astonishing numbers of whites have been drawn to Obama's effort to forge a new alliance of voters that transcends race. When Senator Hillary Clinton accused Obama of deliberately racializing her ill-chosen remarks on Martin Luther King Jr., L.B.J. and civil rights legislation, she implicitly suggested that the Obama camp had indulged in racial opportunism--victim-mongering of the Jackson-Sharpton variety. An important slice of the white vote that Obama attracts is made up of people who are keenly attentive to such charges. They would quickly...

Author: /time Magazine | Title: The Right Shade of Black | 1/17/2008 | See Source »

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