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...fifth Harvard student won a Marhsall Scholarship but turned it down, instead opting to accept a Rhodes Scholarship. The Marshall Scholarship was founded in 1953 and was named in honor of U.S. Secretary of State George C. Marshall, who was the father of the Marshall plan that granted aid to post-war Europe...
...committee, said that he does not think the announcement was responsible. Though the committee does not recommend steps to pull the nation out of the recession, Poterba, Frankel, and committee member Robert E. Hall of Stanford said that policies should be aimed at creating a large stimulus to aid the ailing economy. “Many people are saying across the political spectrum that a good-old fashioned stimulus is what we need in the short term,” Frankel said. “I think it’s very important that [fiscal policies] be well targeted...
...Marchionne, Merkel and Sarkozy are part of a generation of Europeans who have long advocated the weaning of business from government aid as a way of fostering competition and improving companies, in accordance with the free-market model of the U.S. But now the financial twister spiraling from Wall Street across the Atlantic has overturned things, with Europe trying to keep up with gargantuan state intervention by Washington, first in the banking and insurance sectors and now in the automobile industry...
...Indeed, even before GM, Ford and Chrysler officials submit recovery proposals Tuesday in hopes of persuading Congress to steer aid their way, Europe has started to react. French President Nicolas Sarkozy proposed a four-year, 400 million-euro package to help French automakers build more environmentally friendly cars. Sarkozy also called last week for the loosening of E.U. restrictions on direct state aid to companies, restrictions established to encourage more-competitive markets in Europe. "We can't have the Americans unlocking $25 billion in loans for their three manufacturers while we would be caught up in a state-assistance regime...
...billion to help the continent's auto industry develop more environmentally friendly cars, according to Reuters. That support could help struggling companies stay in the race to bring greener vehicles to market during a global economic downturn. Fiat CEO Sergio Marchionne summed up the situation in simple terms: "Either [aid] is for everyone...