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...penny under the plan being proposed. The GM shares they would receive may be worthless in a year if the car company cannot mount a furious comeback against both the economy and more well-financed and adroit competitors from Asia. GM is so close to being put into Chapter 11, effectively at the hands of the federal government, that its offer of equity-for-debt will probably by-pass the powerful committee that represents the firm's bondholders in negotiations. The company has made the correct calculation that it is out of time and that good manners won't pave...

Author: /time Magazine | Title: The Battle for What's Left of GM Gets Meaner | 4/17/2009 | See Source »

...private-equity firms has taken business from conventional banks. Now much of that shadow banking system is gone, and the surviving banks - battered as they may be - are gaining market share in everything from mortgage lending to investment banking. As Wells Fargo shareholder and Goldman Sachs bondholder Warren Buffett put it on CNBC in early March, "This is a great time to be in banking, you know, if you just get past the past...

Author: /time Magazine | Title: Citigroup's Surprising Profit: Is It for Real? | 4/17/2009 | See Source »

...known how many of the thousands of families who send their children to so-called therapeutic boarding schools each year receive tuition reimbursement via IDEA. The exact number of therapeutic boarding schools operating in the U.S. is also unknown, since no official body tracks them, but some estimates put the figure at 150 to 300. Tuition is far from cheap. Monthly costs at residential facilities are $5,000 and up; Mount Bachelor, which houses up to 125 students, charges $6,400 per month, and in 2008 revenue for the Aspen Education Group, which owns Mount Bachelor...

Author: /time Magazine | Title: An Oregon School for Troubled Teens Is Under Scrutiny | 4/17/2009 | See Source »

...conclusions on the efficacy of condoms in the African pandemic are not wed to any ethical or moral point of view. Dr. Green and those of his ilk are scientists, concerned with what the data say. Or, as he succinctly put it: “I have always been politically incorrect. I have always questioned authority and tried to speak truth to power whatever the consequences...

Author: By Christopher B. Lacaria | Title: The Politics of Condoms | 4/16/2009 | See Source »

...would be unwise to put much stock in the shifts in polls less than two years into a five-year, reform-focused term - especially when you add in a nightmarish global recession few people expected. Still, Chirac must secretly be enjoying the moment. After his own 12 year presidency limped to an end with approval ratings at times dipping below the 20% mark, Chirac was left to watch his one-time protégé-turned-rival take over the Elysée and thrill a mesmerized French public. Where Chirac's leadership was criticized as plodding, unfocused, and ready...

Author: /time Magazine | Title: Mon Dieu! Chirac More Popular Than Sarkozy | 4/16/2009 | See Source »

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