Word: bailout
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...list of firms expected to get HAMP subsidies reads like a Who's Who of major subprime lenders and loan servicers, including financial institutions that have already received big bucks in the government's bank bailout. Countrywide, which is now owned by Bank of America and was one of the country's biggest subprime lenders, may receive up to $5.1 billion in incentive payments to modify loans...
Further, GM's decision to leave NUMMI, which wasn't eligible for bailout money, made the plant any easy candidate for a shutdown, since Toyota's plants in Kentucky, Indiana, Texas and Alabama are all newer and nonunion, Cole says. United Auto Workers officials organized a large protest outside the NUMMI plant last week. (Read "Why Volkswagen Is Powering Through the Recession...
...Over the past few days, though, everything has come undone again. GM's management, which now includes U.S. government appointees after Washington's massive bailout of the Detroit firm, is split. Some on the board want GM to sell its European operations and focus on the U.S. market. And GM cannot use money from U.S. taxpayers to restructure Opel. (See pictures of General Motors factory-scapes...
Some industry experts believe that returns from these investments could rival the huge profits pocketed by investors during the Government Resolution Trust Corp. bailout of the savings-and-loan debacle of the late 1980s and early '90s. Back then, vulture investors picked up distressed assets at pennies on the dollar, and returns often exceeded...
That left room in the top 10 for just one rowdy-guy movie aside from G.I. Joe, and it was a clunker. The used-car farce The Goods: Live Hard, Sell Hard fell hard, cadging just $5.5 million and instantly qualifying for an federal auto bailout. Of the other new releases, Hayao Miyazaki's Ponyo, which had made $165 million in its native Japan, earned $3.5 million in the English-language version - which is not much, but is also not bad, considering the modest returns for Miyazaki's previous theatrical releases in North America (Princess Mononoke, $2.4 million; Spirited Away...