You need to understand a little bit about how CSS works - and more specifically inheritance.
You have your time sitting in a span tag with the class "time" and that class only defines a color. Surrounding that tag, is the div tag with class smallfont. That class provides both a font size and style and thus your time will have that font size and style. Now, surrounding that tag is a td tag with class alt1. That class defines a background color and a font color. Since your time class is 'closer' to the actual element (your time), that color definition (for class=time) replaces the color definition from alt1. Keep going up and up and look at all the classes that surround your time. If somewhere up above there is a font-weight defined and it is never replaced, then that font-weight takes precedence. You can chase that down and change it, or you can just simply add in the font-weight definition to your time class:
HTML Code:
font-weight: normal