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...company is based in Wolfsburg in Lower Saxony and the state holds 20% of its shares, but through a law written just for VW, the so-called "Lex VW," the state cannot be outvoted. Lower Saxony's governor, Christian Wulff, a Christian Democrat who sits on the VW supervisory board, opposed a takeover of the company by Porsche. So it was no surprise that Wulff welcomed the merger announcement...
...clear that Canada needs to step up with a serious rescue package for Chrysler and General Motors if it wants a voice in how the North American auto industry is restructured. But it's already a silent partner, receiving just 2% of Chrysler and one director on the new board in exchange for $3.2 billion in support. That's poor payback, says Jack Layton, head of the New Democratic Party, Canada's fourth largest federal party, which enjoys strong union ties. "The government did not fight hard enough for job and production-share guarantees," he says...
...margins for the past two years, according to Ward and Iverson. The price of feed skyrocketed amid a rally in the prices of agricultural products, up until the recent slump in demand for pork. For example, soybeans recently set their seven-month high in futures trading on the Chicago Board of Trade...
...Students must also make sacrifices. Perhaps every House does not need a $500 grant from the College Events Board for a Yardfest pregame. While it would be disappointing if the Office of Residential Life no longer funded decorations for House Committee events, it would be more devastating to see clerical workers lose their jobs. These trade-offs abound at an institution like Harvard. Luckily, we can still have fun without spending upwards of $10,000 on a House formal...
...upset Panama's powerful ruling party on Sunday to win the presidency in a landslide. Martinelli, 57, is a U.S.-educated free-marketeer, a millionaire whose business empire includes supermarkets, banks and agricultural firms. Just as important, earlier in this decade Martinelli was chairman of the Panama Canal's board of directors and Minister of Canal Affairs when the ACP decided on a $5.25 billion expansion of the canal, approved by voters in 2006, which has already created 2,000 new jobs and promises to engender thousands more before the project is finished in 2014. "We will change this country...