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Ben Bernanke Is Time Magazines Person Of The Year

Time Magazine have announced that Ben Bernanke is the person of the year in their annual list, beating out Gen. Stanley McChrystal, who was the runner up for consideration.

Ben Bernanke Is Time Magazines Person Of The Year

3rd place went to the Chinese worker, 4th place went to Nancy Pelosi and 5th place went to Usain Bolt, the Jamaican sprinter and Olympic gold medalist.

Time named the 56-year-old chairman of the Federal Reserve, the central bank of the U.S., because they say he is the most important and most understood force shaping the American – and global – economy.

TIME Editor Richard Stengel says “he was the great scholar of the Depression who saw another depression coming, and did everything he could to stop it. He’s a controversial figure. He’s a Republican appointed by a Democratic president. It’s a really interesting combination of factors.”

Other contenders who didn’t make the top 5 included President Barack Obama, who was named Person of the Year in 2008, and Steve Jobs co-founder and chief executive of Apple Inc.

The whole article on Ben Bernanke can be found at the source, but do you agree with TIME’s decision?

source: Person of the Year 2009 [TIME]

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Time, Inc. Firing 600 Employees!

Time, Inc., which publishes such magazines as People, Entertainment Weekly, Time and In Style, is really feeling the pinch. In a drastic cost-cutting effort, the company is firing 600 of its employees.


The company outlined the overhaul on Tuesday evening in a memorandum to employees after The New York Times revealed the cuts on its Web site. The layoffs will begin in about two weeks.

No magazines are scheduled to close, but some are likely to be severely cut back. Ann S. Moore, Time Inc.’s chairman and chief executive, was already planning an overhaul because of the upheavals in print media, but she was forced to speed up those efforts amid the financial crisis and looming recession.

Time Inc.’s 24 magazines in the United States and their Web sites will be organized into three divisions: news, which will include Fortune, Money, Time and Sports Illustrated; lifestyle titles, which include Real Simple, Cottage Living, Coastal Living and Southern Living, among others; and style and entertainment, which includes People, InStyle and Entertainment Weekly, which has suffered a severe downturn and is likely to be whittled down under the new structure.

Maybe they shouldn’t have been paying MILLIONS of dollars for celebrity baby photos?

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