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...shakeout coming and dumped even more of them on the market. At the same time, demand was dampened by the maturing of baby boomers, many of whom now aspire to move from condos to split-level suburban homes with lawns. Many new condo projects, particularly luxury developments, have become virtual ghost towns. In March, Crocker National Bank repossessed a $28 million, 88-unit condo project in Glendale., Calif, because the builder had been able to sell only three apartments in two years...

Author: /time Magazine | Title: Building a Hollow Skyline | 6/21/2005 | See Source »

...might be expected, a specialized definition comes from the most highly specialized champion of American cooking, Paul Prudhomme, who adapts Cajun and Creole classics at K-Paul's. His dishes of spice-blackened redfish, jalapeņo cheese bread, flounder stuffed with seafood, and crawfish "popcorn" have inspired a virtual cult of imitators such as the Ritz Cafe in West Los Angeles, a branch of which will open on Park Avenue in New York this fall, the Atchafalaya River Cafe in Houston, Memphis in New York and Lafitte in Washington. "The food we call Creole and Cajun is the most American...

Author: /time Magazine | Title: Eat American! | 6/21/2005 | See Source »

...began within ten weeks of the school's opening). Starting in 1963, the school also benefited from then unprecedented grants of nearly $6 million from the Ford Foundation, which allowed it to recruit the best prospects nationwide and bring them to Manhattan on full scholarship. The money was a virtual endorsement of Balanchine's technique and style over any other. The grant accomplished its long-range purpose: today at least ten of the stronger American ballet troupes are headed by S.A.B. veterans...

Author: /time Magazine | Title: Books: Elite Corps | 6/21/2005 | See Source »

Japan's national railway network, much like the people it serves, enjoys an international reputation for efficiency and civility. But last Friday both the system and the national cool proved fragile indeed. For several chaotic hours, Tokyo came to a virtual halt after a group of radical activists sabotaged the core of its transportation system. As many as 10 million commuters who normally use the railroads were forced to battle their way onto buses, subways and private rail cars. They pushed and shoved with such force that police officers had to use bullhorns to direct the vast throngs. Those...

Author: /time Magazine | Title: Japan: Paralysis on the Tracks | 6/21/2005 | See Source »

...million to open or expand R&D centers in California, Michigan and Germany; a $60 million proving ground in California's Mojave Desert opened in January. And in South Korea, he expanded R&D headquarters, adding a new design center complete with a 3-D cinema for viewing virtual models. Lee says Chung visited his office recently and asked, "Do you have enough money?" With a wry smile, Lee says he told his boss he didn't. Chung immediately offered several hundred million dollars...

Author: /time Magazine | Title: Hyundai Grows Up | 6/20/2005 | See Source »

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