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...stock trades at $1.71, which is not even its 52-week low. Several news outlets have reported that the Treasury has asked the No.1 US car company to prepare for Chapter 11. The government will probably try to have GM broken into two pieces. In that case, most of the creditors may be stuck holding paper in the weaker of the operations which will be made of brands like Saturn and Hummer which have no economic value at all. If that tactic works, the money that GM owes to financial firms could end up being next to nothing...
...year ago, neither the car companies nor the federal government thought that they would be facing a decision on one or two Chapter 11 filings or how the fall-out from these events would be managed. A year ago, no one expected the GDP to fall as fast as it is falling or that the economy would be losing 600,000 jobs a month...
...clashes marked yet another unhappy chapter in Thailand's seemingly endless crisis between two political forces, which each claim the mantle of democratic fervor and populist sentiment as their own. Last year, yellow-shirted antigovernment protesters drawn heavily from the middle classes occupied Thailand's seat of power for months and besieged Bangkok's international airport for a week. The Yellow Shirts' aim? To force the then government to step down because they considered the ruling party to be a proxy for former Prime Minister Thaksin Shinawatra, who was ousted in a 2006 army coup. In December, the courts dissolved...
...never lacks for head-to-head competitions. Picasso and Matisse played show-me-what-you-got for decades, continually rolling out works meant to show up the other guy. Leonardo, Michelangelo and Raphael all kept a cool eye on each other. And there's a brisk little chapter in the history of Abstract Expressionism that could fairly be called De Kooning vs. Pollock...
Twenty-four juniors have been elected to Alpha Iota of Massachusetts, Harvard’s chapter of Phi Beta Kappa. The undergraduate honor society, whose stated goal is to encourage “scholarship, friendship, and cultural interests,” admits students based on factors such as the variety of their course loads and the depth of their intellectual endeavors. The application process includes submitting two letters of recommendation, which the society recommends be written by faculty members at the University. The inducted students said that they were very pleased with their prestigious achievement...