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Snow all work despite rumors

By TIMES WIRES
Published May 18, 2006

U.S. Treasury Secretary John Snow said persistent rumors of his imminent departure haven't undermined his ability to do his job.

"It doesn't do me any good to comment on rumors and speculation," Snow said during testimony to the House Financial Services Committee in Washington.

"The rumors and speculation have not undermined my ability to be effective."

Snow was responding to a question from Barney Frank, a Democrat from Massachusetts, who asked Snow whether his credibility has been compromised by dozens of articles in recent months saying President Bush is looking for a new Treasury secretary.

Time names new boss

Time magazine named Richard Stengel, a 20-year veteran of the newsweekly, as its new editor Wednesday, replacing Jim Kelly, who is taking a senior position at corporate parent Time Inc.

Stengel, 51, had worked at Time in several different capacities, including national and culture editor and editor of Time's Web site, Time.com. Most recently, he was head of the National Constitution Center, a Philadelphia museum and nonpartisan think tank focusing on civic issues.

John Huey, the top editorial executive at Time Inc., described Stengel as "a true multimedia editor" and someone who has "an outsider's perspective and the insider's appreciation and knowledge of who and what makes Time tick."

Home-based cruises get an assist from Magic

Basketball legend Earvin "Magic" Johnson, who has made a name for himself, will lead a joint venture that aims to bring more minorities into the rapidly growing business of selling travel from home.

Magic Johnson Travel Group of Miami will supply computer software and training to sell cruises from home, a once-overlooked sales venue that's expanding.

Information from Bloomberg News Service, the Associated Press and the South Florida Sun-Sentinel was used in this report.

[Last modified May 18, 2006, 08:14:11]