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With credit tight and customers scarce, chief executives from San Francisco to Shanghai are hunkering down, cutting costs and praying that they can survive the punishing global recession. But not Madhu Rao, the new CEO of Hong Kong - based luxury-hotel operator Shangri-La Hotels and Resorts. Rao, 57, is forging ahead with an aggressive plan to expand Shangri-La's 60-strong network of hotels, even as his business slumps. "We have one single vision," Rao says confidently, "to lift this [company] to another level...
Grandparents rule. In late 2006, John Kreuzer, 30, and his wife moved from Portland, Ore., into his in-laws' house in San Jose, Calif., because he got a p.r. job in Silicon Valley. They decided to keep staying there - with their two little kids - because Kreuzer's father-in-law was laid off. As the job market got tighter, it just made sense for everyone to share living expenses in such a high-cost area, Kreuzer says...
...wanted to see if voters would embrace Obama's campaign focus on youth and generational change. "I think we've had an answer to that, back in November," Newsom said. "Youthfulness and hope - it's also who I am naturally. I was 35 when I ran for mayor of San Francisco [in 2003]. Youthfulness is not a chronological date; it's about a state of mind - it's the quality of your imagination...
Meanwhile, San Francisco Mayor Gavin Newsom, 41, another Democrat who has yet to officially enter the race, has been barnstorming across California holding town-hall-style meetings. "We've done six and we have more scheduled," he said recently, taking a late-night break on the side of a road to talk politics with TIME for 45 minutes. "And I just can't believe how engaged, and how passionate, the voters are at each and every place we go. They are hungry for change." (See pictures of the recession...
...Publicly disclosed in 2004 that he had been recruited to leave Seattle to run police departments in San Francisco and Boston...