Word: courtelis
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...workers, and its bondholders, mostly banks and other large institutions, which are owed some $27.5 billion and by law are first in line to get paid back. It's fairly clear the Administration wants to make bondholders eat huge losses - or make them try their luck in bankruptcy court. "No bankruptcy judge is going to rule against GM and its plan. Not for labor, not for bondholders, that's for sure," says Lynn LoPucki, a bankruptcy expert at the UCLA School...
...progress has been slow for a number of reasons. There has been obstruction from France, Germany and a few other E.U. members who are not keen on a predominantly Muslim country of 70 million joining their club. There has also been political turmoil in Turkey, where the highest court only last year threw out a case on the closure of the ruling AKP. And there is the intractable dispute over the divided island of Cyprus, with the (Greek) Cypriot government consistently using its membership in the E.U. to block Turkey's advance...
...trial is the first time a coup plot has landed high-ranking military officials in court. The 40 soldiers now being held include a retired general and colonel believed to have cofounded JITEM, a secretive military-intelligence unit which many Kurds suspect is responsible for most of the dirty work in the southeast, including the extrajudicial killings of dozens of Kurdish activists. The Ergenekon trial - the group named itself after a mythic central Asian valley Turks believe they come from - "is a milestone," says Nuserivan Elci, who represents some 50 families of the 'missing' in Silopi. "It's a historic...
...that if I come in and work hard, I would get my shot.”He certainly got much more than he wished for.As personal ambition turned into reality, Jones quickly transitioned from an anxious rookie to a regular starter who has become a dominating force on the court. His contributions have rejuvenated a Harvard team currently sitting atop the EIVA Hay Division standings and on the verge of making the playoffs for the first time in over five years. And while the upperclassmen deserve just as much credit for the program’s rapid resurgence, Jones...
...real test of Rattner and Bloom's collaboration is upcoming. Obama, in putting new conditions on any more billions being handed to Detroit, gave Chrysler 30 days to strike a partnership with Fiat and GM 60 days to avoid bankruptcy court. Rattner will have to browbeat intransigent bondholders. Bloom will have to force major benefit cuts on the unions. And both will have to sell management on a radical reordering of their companies, one in which both capital and labor take a serious hit in order to keep the machine running...