Word: carlies
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...does Detroit's immigrant autoworkers feel about the federal bailouts? Like most people in the Motor City, protective. "Why did the government bail out the banks and not the car companies?" asks Jerry Lelito, a General Motors plant manager for 23 years. "Those bankers make huge windfalls, and the executives walk away with golden parachutes. These are hardworking American workers who make up the industrial core in this country. So many other industries depend on the existence of the U.S. auto industry." Warren David adds that while the younger immigrant generations are not as directly affected (many have received better...
...Kanteen comes in four other sizes, including a 12-ounce "Sippy" for babies, and seven hues - in plain gray steel for us minimalists, and enameled exteriors in vivid, solid colors like Ocean Blue and Orange Sunset. Like the Sigg and the Camelbak, the Kanteen fits easily into a car's beverage holder (the 32-ounce Nalgene Tritan was too wide, but Nalgene does make narrower bottles). Klean Kanteens are made in China by an American company, are easy to clean and because they're stainless steel inside and out, flavors do not linger after washing. Like the Sigg, the Kanteen...
...dramatic decline of China's car market is one of the best indicators of just how sharply and suddenly the global financial crisis has hit the world's fastest growing economy. In recent years, China's car market has been among the world's hottest, with growth rates routinely in double digits. But Chinese consumers, worried by depressed stocks, weakening property prices and growing job losses, are choosing to put new car purchases on hold. In November, cars sales plummeted 10% from a year earlier, according to state media. U.S.-based research firm J.D. Power predicts passenger vehicle sales will...
...contracting car market in China deals another blow to a global industry already reeling from recessions in the U.S. and Europe. China was supposed to be a surviving bright spot, where international carmakers, beleaguered at home, could still find new sales and profits. But with the market shifted into reverse, the already fierce competition between foreign and Chinese automakers like Chery and Geely will only intensify. Discounting has become widespread as carmakers chase fewer customers with special deals, eating into profit margins. "When growth is slowing down, everyone will be trying to defend market share," says David Jin, managing director...
...loan isn't government aid or any sort of bailout, but a "business deal" between Chery and the bank. However the money is characterized, it will be a boost to Chery's operations. Jin says the funds will be used for export-related projects, such as developing new car models for overseas markets...