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...because those who borrow in small amounts from micro lenders often work on projects unaffected by large-scale global banking travails. Recent studies have confirmed the robust reliability of borrowers at the bottom end of the global income scale. The world's poorest are affected, though, by commodity price volatility and fluctuating food and fuel costs. Mary Ellen Iskenderian, CEO of Women's World Banking, a global network of 54 microfinance institutions and banks in 30 countries, spoke to Time's Jeremy Caplan recently about how the financial crisis has affected those on the lower rungs of the world...

Author: /time Magazine | Title: Microfinance Still Hums, Despite Global Financial Crisis | 12/3/2008 | See Source »

...Across the country, energy companies are quickly cutting their exploration efforts. On Tuesday, oil fell to $46.85 a bbl., its lowest price in 3 1/2 years, down significantly from the $140 it traded for this past July. Natural-gas prices are well off highs too. And that is causing energy executives, recently determined to drill in places long considered uneconomical, to rethink their plans. "Oil and gas companies are going to meaningfully cut their budgets next year," says Larry Nichols, chief executive of Devon Energy, one of the nation's largest exploration companies. "And that includes us." (See TIME...

Author: /time Magazine | Title: Oil-Price Drop Forces Big Energy to Retreat | 12/3/2008 | See Source »

...faces. It is investing $750 million in the Chevrolet Volt, a range-extended electric vehicle that is supposed to get 40 miles on a charge of electricity. It is a major technological achievement, but analysts figure that the cost of the extra batteries in the Volt will raise its price to around $40,000. Since sales volume will be very small, GM will lose money on every one. Volt will be great for corporate egos but lousy for the bottom line. (See the Top 10 Bailout Measures...

Author: /time Magazine | Title: Even with a Bailout, GM's Profit Prospects Look Bleak | 12/3/2008 | See Source »

...should be prepared for FAS to spare no one, and rightfully so. There is no question that this will diminish our quality of life and dim students’ prospects in the near future. But that is what a recession does. We cannot expect others to pay the penultimate price without shouldering part of the weight ourselves. Some may argue that a university ultimately exists to serve its students. But, through our sacrifices, students can reassure beloved dining-hall workers and library security guards of the truth: This is as much your university as it is ours.In the end, student...

Author: By The Crimson Staff | Title: Ask Not | 12/3/2008 | See Source »

...Lame Duck, acquired the book from a Soviet emigrate as part of a larger collection of pieces inscribed by Nabokov. “I must have offered to buy the collection 600 times before he sold it to me,” said Wronoski. “The price it sold for wasn’t even that high,” he said. “It was in poor condition—the spine was broken and there was a tear along the front hinge.” In fact, the other first edition copy...

Author: By Stephanie M. Woo, CONTRIBUTING WRITER | Title: “Lolita” Brings Big Bucks to Bookstore | 12/3/2008 | See Source »

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