Word: deal
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Three miles away, in Bhutto's country home, her widower and political heir mounted a platform to deal with the implications of the other large movement of people. He warned against war and appealed for peace through dialogue. "War," President Asif Ali Zardari said in a live televised address, would prove disastrous for "the whole region." Dressed in a long black coat and gripping the podium firmly with both hands, an unsmiling Zardari pushed back against what has over recent weeks been seen in Pakistan as pressure from Washington and New Delhi. "I want to tell the oldest democracy...
...part of the Federal Reserve deal, both GM and Cerberus will reduce their stakes in GMAC, a company decimated by the crisis in residential loans. Although created originally to finance GM's car sales, GMAC also got into residential mortgages, including the subprime variety. Result: GMAC has lost $8 billion over the past two years. Cerberus will distribute shares to its investors, thereby reducing its voting stake to 14.9% and its overall equity stake to 33%. GM will transfer some of its shares to a trust, which will sell off the stock over the next three years...
...bank holding company, GMAC will have expanded opportunities for funding and access to capital, which will provide increased flexibility and stability. As part of the transformation, GMAC must complete a tricky $38 billion debt restructuring, getting bondholders to accept new terms and steep discounts. The deadline for cutting this deal with bondholders is this weekend but the details probably won't be available until next week...
...Association for Counseling and Psychotherapy, says that while romantic comedies can cause problems for couples once they exit the euphoric first few years of a relationship, they also provide a much needed source of hope and inspiration for the unattached. "We need to live by stories that help us deal with tough realities. Idealism has a role to play - it can convince us that no matter how misshapen, decrepit, or dull we are, there is someone out there for us. And you know what? There is! Walk through any shopping mall and you see the most extraordinary pairings," he says...
...joining President-elect Barack Obama's staff? If there's one foreign policy achievement that Clintonites are proud of, it's Bosnia. Some 13 years ago, during Bill Clinton's second term, a U.S.-led military intervention stopped the carnage in the former Yugoslav republic, followed by a peace deal forged by then Assistant Secretary of State Richard Holbrooke and signed in Dayton, Ohio. The deal, which carved Bosnia into two ethnically based statelets while retaining a weak common government, was so successful that vice-president-elect Joe Biden suggested it should be used as a model for ending...