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Ford, while not seeking federal aid, has announced plans to extend its holiday shutdown at 10 assembly plants next month. Lewis Booth, Ford's chief financial officer, declined to make predictions about industry-wide sales for 2009, but noted, "We're seeing weak sales in Western Europe and in Eastern Europe, where sales in Russia dropped." Russia's weakness prompted Ford to trim production at its new assembly plant near St. Petersburg. "We're even seeing weakness in South America, where sales were very strong right through September," he said. Ford, however, has enough cash to make it through...

Author: /time Magazine | Title: In the Nick of Time: Bush Announces Auto Bailout | 12/19/2008 | See Source »

...best to impose order on what would otherwise be the disorderly bankruptcies of the two companies, but in many regards it just passes the buck to Obama. To be fair, Treasury had but a week to address an incredibly complex problem and come up with a multibillion-dollar aid package - no small achievement, however lacking in teeth. (Read "In the Nick of Time: Bush Announces Auto Bailout...

Author: /time Magazine | Title: Bush's Rescue Plan for Detroit: Passing the Buck | 12/19/2008 | See Source »

...This action will help to preserve many jobs," said a visibly more relaxed Rik Wagoner as he spoke of Friday morning's announcement of aid for the automakers. It's been a tense week, and not just for Detroit's CEOs. In recent days employees of the Big Three in Detroit have been going about their jobs as a life and death debate waged in Washington. Just this week, executives from General Motors Corp., Chrysler LLC and Ford Motor were offering reporters sneak previews of vehicles due out in 2009 and 2010 despite huge uncertainty surrounding their future...

Author: /time Magazine | Title: The Reaction in Detroit: A Sigh of Relief | 12/19/2008 | See Source »

...narcotraffickers battle over turf and trade, the unpaid Red Cross volunteers who come to the aid of the wounded are under increasing pressure. Culiacán is home to some of Mexico's most notorious drug kingpins, and thugs fight daily with Kalashnikovs, rocket-propelled grenades and homemade bombs. About 3,000 soldiers and federal agents patrol the city in Hummers and helicopters, but the job of picking up the maimed is left entirely to the Red Cross--mostly medical students in their teens and 20s. The local government donates to the group but provides no emergency service...

Author: /time Magazine | Title: Postcard from Culiacán | 12/17/2008 | See Source »

Leaders at both universities have repeatedly said their institutions' financial aid programs will continue unabated...

Author: By Bonnie J. Kavoussi, CRIMSON STAFF WRITER | Title: Yale Loses a Quarter of its Endowment | 12/17/2008 | See Source »

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