Word: courts
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...Chrysler news. Shares in GM actually rose on the announcement by the President. It may be that Wall St. believes that GM's creditors will give in, now that they have watched the Administration steam-roll the Chrysler debt holders. That is not likely. If the bankruptcy court gives Chrysler creditors even a brief hearing, GM's creditors will see it as a sign that it is worth holding out for a better deal which may only require them to send attorneys to the federal bankruptcy court in New York City...
...Washington Don't F ___ With the FCC In a setback for potty-mouthed celebs, the Supreme Court ruled on April 28 that the Federal Communication Commission (FCC) can fine networks for "fleeting expletives" that appear during live broadcasts. The case, FCC v. Fox Television Stations, arose from awards shows in which Bono, Cher and Nicole Richie uttered passing profanities. The question of whether such fines violate First Amendment rights, however, was left to a lower circuit court...
...Congress Party, immediately demanded Modi's resignation. But the BJP dismissed such calls, with general secretary Arun Jaitley claiming, "There is nothing against Modi," and that none of the investigations conducted by the Gujarati government had cited him. Jaitley also hinted at a conspiracy behind the timing of the court ruling, claiming that in the past, various reports targeting the BJP have been released at critical phases of elections. (Several key states have yet to vote.) Many observers point out, however, that most of these types of decisions actually came out in the BJP's favor. If the past...
...Minister. "Gujarat is one state that has been very touchy about Modi and anything written or spoken about him," says Mumbai-based poll analyst Jai Mrug, adding that Gandhi's remark rejuvenated the Hindu vote in the state in favor of the BJP. "The [electorate] will see the present court ruling as an attempt by the central government to malign Modi and reduce his chances of being Prime Minister in the next general elections...
...will not go down well with the Indian electorate. Modi may be trying to make himself more acceptable to a wider audience. Since the Gujarat elections of 2007, Modi has been trying to paint himself as the able administrator who has brought progress and prosperity to Gujarat. The Supreme Court ruling will make it harder to keep that message pristine...