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China can afford to be in any business for the long haul if it is convinced that it is in its national interest. That cannot be said about any other nation in the world, especially the United States. The American government is putting its money to work trying to save the financial system and millions of jobs...
...desperate that it may offer a program to exchange its $28 billion in unsecured debt for equity in the company. The bondholders would not get a penny under the plan being proposed. The GM shares they would receive may be worthless in a year if the car company cannot mount a furious comeback against both the economy and more well-financed and adroit competitors from Asia. GM is so close to being put into Chapter 11, effectively at the hands of the federal government, that its offer of equity-for-debt will probably by-pass the powerful committee that represents...
...broad economy is performing. Marketers in these media range from large drug firms spending tens of millions of dollars to small mechanic shops putting classified ads in the local newspaper. If all of these forms of adverting are down 25% to 35% it means that many, many businesses cannot even afford to invest in acquiring new customers. That, as much as any other sign, shows the depth of the recession's effect on businesses...
...proceedings of Forest Grove are being watched with intense concern by school administrators and the teachers union as well as children's advocates. Most advocates argue that families should have access to private schools when public schools cannot provide free and appropriate public education for a disabled child, but most also say that public funds should not be used to pay for residential schools like Mount Bachelor. Such programs, they say, are overly restrictive and unproven, and virtually all their students - who typically have depression, substance use, behavioral problems or ADHD - can be safely treated within the community...
...country where the will and the wisdom of politicians becomes hostage to the threats of barbarians?" writes student Sehar Tariq, in an opinion piece in the English daily The News. "How can I feel secure in a country where the army, despite receiving the largest chunk of our resources, cannot defeat a bunch of thugs?" It's a question that nobody seems able to answer. With reporting by Ershad Mahmud/Islamabad