Word: bailouts
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...company's international partner, DaimlerChrysler, has refused to provide it with new financial support. In April, DaimlerChrysler Chairman Jurgen Schrempp asked banks linked to Mitsubishi to forgive some of its $9 billion in debt as a precondition for the German-U.S. auto giant's participation in any bailout. But he was turned down. Soon after, Rolf Eckrodt, the DaimlerChrysler-appointed president of Mitsubishi Motors, resigned. DaimlerChrysler, which has already invested $3.5 billion in Mitsubishi's auto and truck businesses, says it has no intention of selling its 37% stake in Mitsubishi Motors?but, warns Standard & Poor's credit analyst...
...immensely fascinating and challenging. There was enormous breadth to the things that you had to know because it ranged from doing the guarantees of New York City debt, the bailout of Chrysler, opening up formal relations with China, the Banking Act of 1978, and the freeze of Iranian assets,” Mundheim says...
...rushing madly into his 80th birthday June 12, when there will be a Houston celebration ("41@80") involving thousands--including a certain U.S. President and a couple dozen sports, TV and movie stars blowing candles and kisses. The next day: Bush's fourth parachute jump (counting his WW II bailout), at Texas A&M in College Station...
...INDICATORS A Problem Shared? The French government reportedly agreed to a deal with the E.U. over the bailout of crippled engineering firm Alstom. The proposed debt-for-equity swap would leave Paris with a 31.5% stake in the firm...
...INDICATORS Asian Strategy Stalls Germany 's DaimlerChrysler announced it would sell its 10.5% stake in South Korea 's Hyundai Motor Co., just a month after DaimlerChrysler refused to bailout Japan 's Mitsubishi Motors, in which it holds a 37% stake...