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...candidates overseas. "It's definitely a good time to buy Hummer," says Liu Chang of Sinomind Management Consulting in Beijing. "GM wouldn't sell it if it was in better shape." But China's previous results from acquisitions of foreign automakers have been poor. In 2004, Shanghai Automotive Industry Corp. paid $500 million for a 49% stake in South Korea's Ssangyong Motors, which declared bankruptcy in January...
Before the new General Motors Corp. envisioned by the Obama Administration can take wing, the remains of the old GM will have to be buried...
...then President, General Pervez Musharraf, permitted private TV stations to broadcast news instead of just the state-owned Pakistan Television Corp. At the time, Musharraf's deregulation was hailed as a significant step for the nascent free-press movement; indeed, today there are more than 30 nongovernment TV stations in the country. As TV stations proliferated, I argued that increased competition would force the emergence of a strong, ethical and responsible media corps. But there simply aren't enough well-trained and -informed local journalists to supply the dramatically greater number of media outlets. I also assumed that consumers would...
...SIPA trustee handles bankruptcies when the Securities Investor Protection Corp. (SIPC) steps in to take charge of fallen brokerage houses. Picard is considered the superstar of SIPA trustees, having handled the largest cases SIPC has managed, and other large non-SIPC cases, such as portions of airline TWA's bankruptcy. He has participated in at least 38 major bankruptcy decisions. According to Stephen Harbeck, president of the Securities Investors Protection Corporation, Picard has served as trustee in more brokerage firm liquidations than anyone else in the U.S. (See the worst business deals...
...merge GM's European business into the Fiat-Chrysler group to create one of the biggest carmakers in the world. His plans to close plants in Germany and Italy have been roundly condemned by powerful German governors and the IG Metall trade union. A Chinese carmaker, Beijing Automotive Industry Corp., is expected to detail its own plan for Opel next week. (See the 50 worst cars of all time...