Word: agreement
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...Ironically, while the buyout agreement could help cut GM's payroll, it could also end up exacerbating its other major problem, crippling employee retirement costs. John Murphy, the auto analyst for Merrill Lynch, warned in a note to investors, "The accelerated retirements at GM may result in a lower active headcount, but further exacerbates GM's already heavy burden of 2.5 retirees to active workers. Furthermore, GM continues to structurally shrink as it loses market share in the U.S., which means that a smaller company is supporting more retirees. Until GM stabilizes market share, rationalizes capacity at every point...
...Post on Tuesday that if he were still in Congress he'd be "skeptical" of the accord "and looking at conditions that would be attached." On the other hand, the day before former secretary of state Henry Kissinger penned an op-ed article in the Washington Post praising the agreement as "a seminal contribution to international peace and prosperity. "Ultimately, congressional Republican sources think that view will prevail in Congress. If it doesn't, Rice, Burns and their boss will have a lot of explaining to do to their new friends in India...
...civilian nuclear facilities would come under IAEA inspections, but eight other nuclear facilities would be classified as military installations and not subject to inspections. Those facilities would be able to continue producing nuclear bombs, and critics charge that uranium the U.S. and other countries could provide under this agreement would enable India to use more of its limited stock of indigenous uranium for its weapons program...
...three decades, now more than half of its program would come under international controls. The deal, Burns tells TIME, also establishes "an important strategic friendship with India" that will benefit the U.S "for the next 50 years." In a Wheeling, W.Va., speech Wednesday, Bush gave another rationale for the agreement, arguing "it's in our interest that India use nuclear power to power their economic growth." That way, he argued, India would consume less of the world's oil supplies...
...first glance, the headlines appear unconnected: The U.S. and its allies again fail to secure agreement on a U.N. Security Council ultimatum to Iran; democracy activists in Belarus take to the streets to denounce the electoral farce that returned the authoritarian Alexander Lukashenko to power; Secretary of State Condoleezza Rice holds a security summit in Australia with her counterparts from that country and Japan. Yet those headlines, together with the ones announcing closer economic ties and strategic ties during President Putin's visit to Beijing, hint at how Sino-Russian concerns over U.S. policy elsewhere may prolong the Iran deadlock...