Word: chapter
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General Motors' (GM) creditors have rejected a program that would have swapped most of the auto company's debt for equity, effectively driving the firm into Chapter 11. The century that began with the mass production of the Model T in 1909 and ended with the worst collapse of domestic vehicle demand in history is over. It was a 100-year period when Detroit was considered the seat of global manufacturing prowess, a period when the Big Three were among the largest, and often the most profitable, companies in the world...
...Administration is starting to face some resistance in Congress about its plan to put General Motors (GM) into Chapter 11, using Treasury money to sustain the company as it works its way back to profitability. The government put another $4 billion into the car company on Friday. In the process of a government-supported bankruptcy, $27 billion in bondholder capital will probably become worthless, GM workers will be laid off and hundreds of dealers will be closed...
...sentence marks the final legal chapter in one of the most notorious crimes committed by U.S. service members during the Iraq war. The case is a flash point in Iraq, where many locals quoted in news reports have said death would be the only acceptable sentence. To represent her country's point, the Iraqi Minister of Human Rights attended the first day of the trial. Darren Wolff, a Louisville, Ky., lawyer in private practice who helped defend Green, said international opinions should not be relevant to the pursuit of justice. In a written statement after the sentence became known, Wolff...
...After working hard for 20 years, she gets to take a sabbatical, spend as much time as she wants with her kids, do as many high-impact public events as she chooses and, when it's all over, have the rest of her life to write the next chapter. "I don't even know what that is yet," she says, but she'll have choices then, as she has now, that most working mothers only dream...
...industry will hit a post-bankruptcy tipping point around Labor Day. Chrysler will be several months into its Chapter 11, and, unless there is a miracle like one seen at Lourdes, GM will be in court within two or three weeks. It will appear to the public that the car industry is burning to the ground. Desperate dealers offering prices that defy logic will only heighten the sense that the American car business is just hanging on to the ledge...