Word: carred
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...middle of the year, the federal government will own large, and in some cases, controlling interests, in two car companies and several major banks. There is a chance the the extent of rescue efforts and government ownership could move to auto parts suppliers and insurance companies. If the Treasury can pick up stock in Microsoft (MSFT) and Intel (INTC), it can control most of the important sectors of the economy. That raises the issue of how the federal government gets all of that taxpayer money back...
...car industry is not terribly different. If the Treasury controls GM (GM), first it will have to decide how much control it wants to exercise and to what extent it wants to influence company policy. Beyond that, if the company does well, the yield from the government's investment may be locked up, unless it can find another car company, almost certainly foreign, to take its stake. That brings the conversation around to whether the Congress is anxious for GM to be controlled by VW or Toyota (TM). (See pictures of Detroit's decline...
...Vogue, Vanity Fair and Glamour) to the drab, buttoned-up world of business journalism. So big-name writers and editors were lured away from prominent publications, including editor in chief Joanne Lipman, who came over from the Wall Street Journal. She got the usual Condé Nast perks: a car and driver, an office decorated in the style of her choice, business- or first-class plane tickets everywhere. (See the best magazine covers of the past year...
...much high-end magazine journalism costs, Condé Nast chairman S.I. Newhouse Jr. stuck by her a month past the April issue, which at 106 pages was reputed to be the thinnest his company had ever published. The magazine relied on advertisers from the finance, corporate-branding, car, travel and luxury-goods industries, all hard hit in this recession, and it never became a must...
Everybody remembers his first car, and most of us remember a second coming-of-age milestone: our first new car. After years of driving around in Mom's old Chevrolet Caprice or Granddad's (may he rest in peace) Ford Torino (it too), finally came the day when you wiped your hands of automotive grease and traded in the wrenches for your first new set of wheels and breathed in its intoxicating new-car smell. Having grown up in the backseat of my father's 1957 Pontiac, I had little doubt that my first new car, too, would proudly sport...