Word: debts
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...Unable to force Piech to give in, Porsche seems to have just run out of time. Its gambit to acquire VW cost Porsche dearly as it piled up a $12 billion mountain of debt to finance stock purchases. With the sports carmaker beginning to struggle under the weight of that debt, Porsche and Piech met in Salzburg, Austria on Wednesday to end the feud. Following that meeting, Porsche issued a statement declaring that the two companies aimed to "develop a corresponding basis for decision-making on the future structure of the common group...
...mom’s houses. In the cities we grew up in. We still don’t know how to cook very well. Yeah. Oh also, we now have millions of dollars. Just joking—we don’t. Max: I’m in debt, actually. 12. FM: How has the response been to “Love the Future”?: Max: Great—people bought it and told us it was good. D.A.: The Boston Globe gave it an amazing review, just like the Associated Press. People Magazine gave it 3.5/4 stars...
...Plumber, tells TIME he's so outraged by GOP overspending, he's quitting the party - and he's the bull's-eye of its target audience. But he also said he wouldn't support any cuts in defense, Social Security, Medicare or Medicaid - which, along with debt payments, would put more than two-thirds of the budget off limits. It's no coincidence that many Republicans who voted against the stimulus have claimed credit for stimulus projects in their district - or that Louisiana Governor Bobby Jindal stopped ridiculing volcano-monitoring programs after a volcano erupted in Alaska...
...thousands of refugees. It will be even more important as the country tries to rebuild the north after nearly 30 years of war. Spending on military pay, pensions and hardware has put a huge burden on Sri Lanka's budget. This year, the government's total tax revenue, after debt servicing, will not be enough to meet its expected spending. And yet the Sri Lankan government has not only refused to accept humanitarian conditions on aid; it has tightened its position on access to civilian refugees, whom it calls the beneficiaries of "the largest hostage rescue in the world...
...Tata Motors' unusual sales scheme for the Nano could ease some of its financial pressures related to $3 billion in short-term debt taken on by the company to acquire Jaguar and Land Rover from Ford in March 2008. Because buyers placing orders for Nanos were required to pay for their cars in full, Tata Motors - India's largest car company - is receiving a $507 million cash infusion. Analysts say the revenue will reduce the company's liquidity problems and make it easier to refinance its outstanding loans, which come due next month. Tata Motors repaid $1 billion...