Word: auto
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Dates: during 2000-2009
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...fashion one. “Presumably better to have a joint strategy than to have none at all,” he said. Rubin, the director of studies at the Center on International Cooperation at NYU, echoed this sentiment. “The war is going almost on auto-pilot,” said Rubin, who returned from Afghanistan Nov. 26. He also said that the U.S. government has effectively created and continues to support a shadow state in Afghanistan by hiring private security guards, who are employed and controlled by war lords. “There...
...United Auto Workers' bargaining committees from General Motors, Ford Motor Co. and Chrysler LLC are scheduled to meet in Detroit this week, facing pressure to make additional contract concessions in order to secure federal aid for the struggling automakers...
...further concessions are a "very sensitive issue for the union," says Shaiken. The battles over concessions have reopened old wounds in an industry long known for class warfare. Detroit's auto companies are organized around a strict hierarchy, with little of the "all for one, one for all" spirit that is more typical of start-up companies in Silicon Valley. Executives from Ford bluntly told union bargainers during one meeting last year that "shared sacrifice," a concept used during the industry's last crisis in the early 1980s, no longer applied because executives' high salaries were based on Ford...
...September that the automakers were supposed to use to retool their assembly lines to build more fuel-efficient vehicles. Democratic Congressional leaders have wanted the cash to come instead from the $700 billion financial rescue pot they gave Treasury Secretary Hank Paulson in October - which is why the auto executives found themselves in the strange position of pleading their case before the House and Senate banking committees...
...creditors to get them to reduce their demands - essentially playing the role that a bankruptcy judge would if the company filed for Chapter 11. Almost everybody on Capitol Hill liked the idea, and the other two automakers endorsed it. But GM and Chrysler both say that because of plummeting auto sales they won't have enough cash to pay their bills by the beginning of next month, long before an effective oversight board could get up and running...