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...headquartered in Detroit and employs more than 53,000 people in Michigan, but in the corporate-bankruptcy system, courts compete for cases - especially big ones - so the company could easily wind up at a courthouse hundreds of miles away. Likely venues include Wilmington, Del., the state in which GM is incorporated, and New York City, which has a history of landing large out-of-town cases, such as those involving WorldCom and Enron. (See the 50 worst cars of all time...
...That discomfort is exactly what the agencies count on. The idea of using costumed collectors dates back to the 1980s, when a company, the Cobrador del Frac (or Tuxedo Collector), began sending out agents dressed in black ties and driving cars emblazoned with the company logo. Others followed suit, in ever more extravagant getups, all of them banking on the debtor's sense of shame to motivate repayment. "Personal honor, your public image, is still very important in Spain," says José Romero of the Zorro Collectors. "If one of our agents shows up at an apartment, everyone...
...collectors don't say a word to their targets but instead simply follow them down the street or sit at a neighboring table in a restaurant. "We don't think of it as humiliation so much as making something public," says Miguel González of the Cobradores del Monasterio, whose agents wear monks' habits. "It's the same as with pedophiles whose names are published so that others will know...
...progressive moment because markets have failed and we have got to show that they can be brought to work in the public interest," he told the summit in the Chilean beach resort of Vina del Mar. "It's a progressive moment because we have new administrations, particularly in America, that understand the opportunities as well as the challenges ahead. But it is also a progressive moment if we can find, not just a theory for explaining why markets have failed, but if we can find the policies that will ensure that this new global economy can be made to work...
...decade after the Washington summit at which Clinton, Blair and then-German Chancellor Gerhard Schroeder sat down to sketch out a common world view, their successors have a prevailing wind at their backs. Yet, here in Vina del Mar, they seemed hesitant to seize "the progressive moment...