Word: carlies
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...posted its huge loss. GE (GE) had not cut its dividend. And, Citigroup (C) had not been partially taken over by the government. Some analysts might say that those were unrelated activities made by large companies in unrelated industries. However, these firms were, until recently, the largest car company, bank, and industrial conglomerate in the world. How could the futures of each one disintegrate so rapidly in a matter of a few days...
...saying China's carmakers have turned the corner. Despite stimulus measures, the country's overall car in January were down 14% compared with the same period a year ago (U.S. sales fell 37%). The government has targeted a 10% expansion this year. But Michael Dunne, a Shanghai-based analyst with research firm JD Power, estimates that based on January figures, the mainland's auto market this year will shrink for the first time in 20 years...
...Beijing is also trying to prop up the healthiest companies by encouraging car sales in China's rural provinces, where there are hundreds of millions who have yet to adopt the freer spending patterns of consumers in richer coastal cities. Beginning in March the government will offer $730 million in subsidies to help rural residents replace their outdated three-wheeled vehicles, which are ubiquitous in farming communities, with small trucks or minivans with engine capacities of up to 1.3 liters. Qualified individuals will be entitled to a maximum of $725 under the program...
...Still, the recession could help Beijing push through changes to help the car industry grow more steadily in the long run. That, says Simpfendorfer, is one of the key differences between industry rescue efforts in the U.S. and China. "The Chinese auto sector is not as well entrenched as the interests in the auto sector in the U.S.," he says. "In the U.S. it's a century old [industry]; In China it's not even decades old but a decade old." China has "a greater tolerance to pain" that will allow the country "to push ahead with industrial restructuring that...
...several anti-Syrian politicians and journalists murdered subsequently. ?After four years of waiting and desperately fighting all kinds of resistance (to the tribunal?s formation) we have finally won this battle for truth and justice,? Marwan Hamade, a former minister, told TIME. Hamade narrowly survived a car bomb assassination attempt in October 2004, the first of the attacks included in the UN investigation...