Word: congression
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...Congress and legislatures in the U.K., Europe, and Japan are faced with whether or not to let key companies in important industries pass into Chines hands. Last year, the Congress effectively blocked a deal for Chinese electronics firm Huawei Technologies to buy 3Com. The reasoning was the U.S. did not want critical telecom equipment intellectual property to be easily accessible to China. (See pictures of the global financial crisis...
...question of whether some assets are too important to allow China to buy puts the interests of Congress against the interests of shareholders. PetroChina is paying a 24% premium to buy its new stake in Singapore Petroleum. If a Chinese firm offered a similar premium to buy a US-based energy or refining operation, would Congress block the deal? If the 3Com transaction is any indication, potential shareholder profits would be trumped by a government decision that it does not want China to have control of assets that are part of the fabric of American economic and business interests...
With the National Holiday Act of 1971, Congress moved Memorial Day from May 30 to the last Monday in May. But critics say guaranteeing that the holiday is part of a three-day weekend promotes relaxation instead of stressing the holiday's true meaning. In 1989, Senator Daniel Inouye of Hawaii introduced a bill to move the holiday back to the fixed date of May 30. He has reintroduced it in every Congress since then - with no success...
...Liddy had committed one unpardonable sin, or at least that was the story that several members of Congress wanted to believe. He had agreed to previously planned bonuses for AIG employees who worked in the part of the company that had created many of the insurance firm's losses. Liddy was clear in making the point that AIG had a legal obligation to make the payments. He would have been better off to hold his tongue. The minute he gave an explanation for his actions, no matter how rational it was, his interrogators seized on it as another...
University President Drew G. Faust publicly reaffirmed Harvard’s support for federal legislation that would allow illegal immigrant students to become permanent residents—a position shared by the Association of American Universities and all three representatives to the US congress whose districts include Harvard. “The DREAM Act would throw a lifeline to these students who are already working hard in our middle and high schools and living in our communities by granting them the temporary legal status that would allow them to pursue postsecondary education,” Faust wrote in letters...