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Word: deal (lookup in dictionary) (lookup stats)
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...that sense, GM is getting off easy: Obama's task force gave Chrysler just 30 days to seal its proposed partnership with Italy's Fiat Group - or else join the likes of American Motors, Packard and Studebaker in the auto graveyard. If Chrysler gets the deal done, the government will lend it $6 billion to sustain its operations. But Chrysler's owner, Cerberus Capital Management, will leave with zero of its $7.4 billion original investment. (See the 12 most important cars of all time...

Author: /time Magazine | Title: Can Detroit Be Retooled — Before It's Too Late? | 4/2/2009 | See Source »

...voluntary employee beneficiary association (VEBA) approach. In a VEBA, the union agrees to accept a cash payment to fund a new health-care system that trustees administer, thus taking future liabilities off the company's books. That's what happened at Ford, where the company negotiated a deal in which half the VEBA will be funded in the form of stock rather than cash. GM may need even more help...

Author: /time Magazine | Title: Can Detroit Be Retooled — Before It's Too Late? | 4/2/2009 | See Source »

...head of the private-equity firm Quadrangle Group, and Ron Bloom, an investment banker who previously worked for the United Steelworkers union. Staffed by about 15 restructuring and other experts, the task force aims to do two things in the weeks ahead. First, it will try to close the deal on Chrysler's sale to Fiat. Sources familiar with the task force's approach describe Chrysler as "hollowed out" by a succession of owners and largely worthless, with no quality brands other than Jeep and little hope of restructuring itself into a viable concern...

Author: /time Magazine | Title: Can Detroit Be Retooled — Before It's Too Late? | 4/2/2009 | See Source »

...even possible, despite the current bleakness, that car sales will return to an upward trend this year. The prices of some used cars are beginning to rise as supplies tighten, which makes new cars a more attractive deal. Any improvement in the homebuilding industry bodes well for light-truck sales. And if Congress passes a proposed cash-for-clunker bill that would give car owners a $3,000-to-$5,000 voucher to trash their old vehicles and buy something new and shiny, dealers will move the metal, as they have done already in Europe...

Author: /time Magazine | Title: Can Detroit Be Retooled — Before It's Too Late? | 4/2/2009 | See Source »

...expectations for the G-20 meeting are so low that a great deal of positive action may come out of it, depending on whether the analysts looking at the agreements that think that regulation and stimulus are the tonics for the global recession...

Author: /time Magazine | Title: What if the G-20 Summit Works? | 4/2/2009 | See Source »

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