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...exit from bankruptcy in the next 30 to 60 days. (On July 5, Judge Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York approved the sale of GM's assets to a government-run company.) Further, if a modest recovery in sales doesn't begin soon, the bailouts of both Chrysler and GM could fail. "Our situation is perilous," says GM's LaNeve...
...last name), a handicrafts vendor along the souvenir strip. As the women sitting in their lawn chairs nearby nod their heads in agreement, she adds, "If they really want to help, they should increase our pensions." If Russia's handicrafts industry collapses, a 120-year-old tradition could begin to fade and pensions could be all that these women - and thousands of dollmakers - have left...
...such a distant second, it is perhaps not surprising that Megawati, both a former President and daughter of the country's founding father, Sukarno, would begin to point fingers in the eleventh hour. Current Vice President Jusuf Kalla has also voiced concern over voter fraud. It remains to be seen, however, how much effect these complaints will have given that the elections are run by the General Elections Commission, an independent body known as the KPU. "This is an act of desperation," says Bara Hasibuan, a member of the Yudhoyono campaign team. "They should be asking...
With budget negotiations stalled, a cash crisis looming and its fiscal crisis deepening, California today will begin issuing IOUs - formally called registered warrants - to tens of thousands of businesses and individuals to whom the state owes money. Gov. Arnold Schwarzenegger on Wednesday declared a fiscal emergency and ordered a third unpaid furlough day each month for 235,000 state employees. California's fiscal crisis has been years in the making and will not be easy to fix. But is there a solution...
...named, says he knows of two places that have continued operating illegally since the ban took effect. "If they know your face, they'll let you in," he says. And a Ukrainian government official who works closely on the issue tells TIME that he expects some sites to begin opening their doors to a "select few" in the coming weeks...