Word: courtelis
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...spokeswoman Renee Rashid-Merem says the money is kept separate from the company's cash reserves under an agreement approved by the U.S. District Court in Detroit, which resulted from a "friendly" lawsuit that was part of the process that created the trust. The money can't be used for anything other than retiree health care. "We can't access it," she says...
...what becomes of the trusts should Washington say no to a bailout? Assets already paid into the VEBA trust would probably be safe if GM filed for bankruptcy, says Diamond. But chances of getting the deferred $1.7 billion back in a bankruptcy court are virtually nil. It's also unlikely that the assets in the trust will last 80 years, since bankrupt automakers would be unlikely to make all the future trust contributions. "My guess is the trust would last 20 years," says Diamond. "It's a very difficult situation. Autoworkers were sold a pile of goods by the union...
...Just beyond Batugade, at the most northwesterly point of the border, barbed wire and guards block the road into Indonesia. But a kilometer south is a large unfenced clearing amid thickets of stubby palm trees where the constant smugglers' traffic has flattened an area the size of a basketball court. It is littered with the yellow hessian bags used to carry contraband and the remains of smugglers' campfires. "I see the police about once a week," says Alfredo, an Indonesian petrol smuggler. Other smugglers say the regular local police patrol consists of two unarmed officers who walk to the clearing...
Lwanga is the biggest catch among the 500 or so court convictions SmartWater says it has secured so far - a fairly modest number for a company that has been around since 1995. But that's not counting those who simply come clean when the UV light finds them out, says former police detective Phil Cleary, SmartWater's co-founder and ceo. In any case, he says: "We are not a thief-catching company or a property-recovery company; we're selling a deterrent...
...their time in prison may be coming to an end. This week the U.S. Court of Appeals for the D.C. Circuit in Washington heard oral arguments over the fate of the Uighurs, who were ordered released by a lower court last month. The oral arguments marked another step along the case's path toward the Supreme Court, where it will likely land early next year as President-elect Barack Obama takes office. Obama, who has vowed to close Guantánamo, will probably release most of the roughly 225 prisoners held there and find a way to try a select...