Word: cash
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...says it needs more money from the federal government or it will run out of cash next month. It has made some progress with its creditors and the UAW, but neither of those negotiations is final, so some of what GM can do to cut costs and improve its balance sheet will have to be taken on faith...
...Aside from its sheer enormity, this heap of cash is also intriguing because of the “public-private investment fund” included in Treasury Secretary Timothy Geithner’s recent proposal. The potentially $1 trillion vehicle would aim to combine public and private capital to buy toxic assets from banks. Though widely criticized in its eight days of life, the fund may succeed in attracting private investors—but only if Geithner offers more specifics to incentivize private financing and subdue historic antagonism between private and public sectors, which is traditionally worse in times...
...Clearinghouse had no reason to partner with the Fed. Davison refused to galvanize his member banks in support of a statewide banking holiday. Harrison quickly gave up, delegating responsibility to a lesser state official. As a result, the New York Fed sustained over $350 million in gold and cash withdrawals the following...
...front pocket of his hoodie and pulled out what appeared to be the handle of a gun,” the victim said. The victim said he did not know that it was a BB gun until later that night. The student said he then handed over all the cash in his wallet. The robber allegedly left in the direction that he came, running toward Mt. Auburn Street. “Our officers stopped a suspect near Au Bon Pain, but [the Cambridge Police Department] ultimately made the arrest,” wrote Catalano in an e-mailed statement...
...with time running out, the Obama Administration has decided to take the old-fashioned approach. Instead of creating a post with a big title and vague powers to deal with the problem, the elected President and his ample bureaucracy will decide what's next for the cash-strapped industry. (See pictures of the remains of Detroit...