Word: cuttingly
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...lowball - bid seems the wrong word - offer went like this: If the U.S. government would wipe out Chrysler's shareholders, buy out its bondholders, cut wages and jobs, deal with its retirement liabilities and fund the warranties, then Fiat would take a crack at Chrysler. The Italians would bring their cars to Chrysler's showrooms and share their advanced diesel technology with Chrysler engineers. Chrysler might sell some cars in Fiat's markets - Jeeps may have the best overseas appeal. Marchionne would lend his managerial chops. And if things worked out, Fiat would take a controlling share...
...meanwhile, has been asked to take a deal similar to the one struck with Chrysler. Autoworkers would give up some holidays and bonuses. Their wages would not automatically rise in the future as they had in the past. Some 20,000 jobs would be cut, and future hires would earn wages comparable to those paid in Toyota's U.S. factories. When those givebacks are added to an earlier surrender of the notorious "jobs bank" - which paid laid-off autoworkers for doing nothing - clearly the UAW's once heavenly bed has lost much of its fluff. What remains is the VEBA...
...challenge airlines on shorter trips even before deregulation comes into force. The Eurostar service - the lucrative 21⁄4-hour route between London and Paris - already controls 70% of the travel market between the two capitals. Opened in 2007, a high-speed rail link between Madrid and Barcelona that cut intercity travel time to 21⁄2 hours has grabbed 50% of that market. Similar effects have been seen in Paris-Lyon, Paris-Brussels and Hamburg-Berlin transport links, where domination by fast trains has led airlines to reduce or drop services altogether. "When travel time is two hours...
...come at a more difficult moment for her opponents. For now, the GOP strategy for dealing with Sotomayor is to walk softly and carry a big magnifying glass, searching for a potentially explosive opinion buried somewhere in her roughly 400 rulings from the federal bench. Republicans have their work cut out for them. The Second Circuit Court of Appeals hears plenty of cases involving business and securities law but not many that touch on the hot-button issues that make for good attack ads. Abortion, the death penalty, gay rights, executive power - those haven't come up much...
...supplemental appropriations. Gates has included the war funding in his base budget, "so the programs will be institutionalized and the various services will fight for them." He insists that he is not abandoning the fancy hardware and future gizmos that his predecessors and Congress loved. "The things we've cut," he told me, "wouldn't have been in the budget even if we had $50 billion more to spend. They were programs that simply were unnecessary or weren't working...