Word: carlies
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...While U.S. automobile companies have some responsibility for their current predicament, for many of the reasons you cite, the U.S. Treasury and Federal Reserve have unclean hands as well. Each of the car companies had adequate capital entering the fall, but when Treasury and the Fed "brought down the house" by letting Lehman Brothers fail, worldwide credit markets froze, preventing Americans from buying cars. Financial markets and the lack of available consumer credit - not a lack of appealing car designs - are the reasons for this crisis, and piling the blame on Detroit is simply not balanced. Steven M. Friedman...
...power stopped at about 7:30 p.m. Friday after a rare lightning storm crossed the island. Traffic lights ceased operating; cars were jammed at intersections; cordless phones did not work; panicking residents flooded 911 with calls. Most islanders received news by way of car or battery-operated radios, which included Japanese-language announcements to keep tourists informed of developments. Some mobile phone users had spotty reception because a number of cell towers apparently were not equipped with efficient generators. Honolulu Mayor Mufi Hannemann said over the radio that power would not be fully restored for at least 12 hours. After...
Indeed, Iraq Body Count released its findings as a car bomb exploded near a bus stop in the Iraqi capital, killing 22 people, and wounding 54, according to the Associated Press. In a separate incident, a car bomb killed three in a town south of Baghdad...
...contains another caveat: the 1,106 civilian deaths this year that relate directly to U.S. troop presence - meaning Iraqis killed by U.S. troops or those civilians killed in attacks carried out by insurgents targeting U.S. troops - has remained relatively unchanged since 2006. "While deaths caused by Unknown perpetrators [e.g. car bombs in marketplaces] have plummeted by 87% from the peak year of 2006, civilian deaths [caused by "Coalition military or those who violently oppose them"]... have remained relatively constant throughout the last three years," the report states. "What remains certain is that Iraq under occupation is fraught with dangers...
...part of the Federal Reserve deal, both GM and Cerberus will reduce their stakes in GMAC, a company decimated by the crisis in residential loans. Although created originally to finance GM's car sales, GMAC also got into residential mortgages, including the subprime variety. Result: GMAC has lost $8 billion over the past two years. Cerberus will distribute shares to its investors, thereby reducing its voting stake to 14.9% and its overall equity stake to 33%. GM will transfer some of its shares to a trust, which will sell off the stock over the next three years...