Word: bailout
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...same time that GM plans to shutter plants from Jacksonville, Fla., to Indianapolis on the back of a $50 billion U.S. bailout, the car company is preparing to more than double Mexican output, from 344,099 this year...
...rescue of GM's operations north of the 49th parallel - a figure that works out to an unprecedented $2.1 million for each of 4,400 assembly jobs it hopes to save - while Mexico has sailed free? The short answer is that GM Mexico doesn't need a bailout because it's comfortably in the black. "If you have a profitable division at a time when the rest of your business is having a hard time, do you talk about it?" says analyst Pascual Francisco at IHS Global Insight in Lexington, Mass., referring to GM's decision to remain mum about...
...hope for the ailing U.S. economy, the Treasury Department agreed to let 10 large banks begin repaying $68 billion in federal aid they received under the Troubled Asset Relief Program (TARP). Having passed "stress tests," some large firms like Goldman Sachs and JPMorgan Chase are expected to return the bailout money ahead of the original timetable set by the White House...
...politeness fool you," says Elizabeth Warren. The Harvard Law professor and head of the congressional panel monitoring the bank bailout had just finished a hearing in New York City and was nibbling at a dish of pasta with zucchini. "I can't think of anyone I'm afraid of," she adds. "Certainly not someone who may have had a hand in bringing this country to the brink of disaster...
Warren, 59, is exceedingly polite. She has strong opinions, but she often expresses them in a whisper-soft voice. She tends to say "Does that make sense?" in her Oklahoma drawl right after she finishes answering a question. During the hearing, which was focused on the federal bailout program's effect on corporate and commercial real estate lending, Warren gingerly tapped her gavel from the dais. "The hearing of the Congressional Oversight Panel will now come to order," she said a bit hesitantly. (See three questions about TARP for Warren's panel...