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...immediate temporary Federal loan in the amount of up to $4 billion in the month of December 2008 ... GM would look to draw up to an additional $4 billion in January to fund operating losses caused by very low levels of North American production ... If industry conditions do not improve materially, GM would access another $2 billion ... bringing the total draw to as much as $10 billion by the end of the first quarter...
...Even Ford, which said it would not need federal cash in 2009, said it needed a $9 billion line of credit on which it could draw if necessary. "For Ford, government loans would serve as a critical backstop or safeguard against worsening conditions, as we drive transformational change in our company," said Ford President and CEO Alan Mulally. (See the 50 worst cars of all time...
Today is Cyber Monday, the day for shoppers to surf the Web for special deals. As more people feel comfortable making purchases online, Web retailers expect to draw a rising share of holiday purchases. But with the credit crunch and financial meltdown contributing to the massive pullback in spending, will Cyber Monday be an Internet boom or bust? "I would say bust," says Jon Vincent, founder of BlackFriday.info, an online-deal site. Analyst Ken Cassar of Nielsen Online is little more optimistic. "Cyber Monday will likely be disappointing," he says...
...what the cause is actually about or the event itself. As we have seen, it is difficult to garner attention around the issue at hand, while also advertising for the event itself. There develops a need to focus on the social element without the social responsibility so as to draw in the greatest number of students. However, this approach also does not do sufficient justice to the causes we are raising money for, nor does it help instill a sense of social responsibility in the Harvard student body...
...first parade was a much smaller procession, created in 1924 by Macy's employees eager to celebrate Christmas ( that's right, it used to be a Christmas parade) and draw attention to their department store. The employees marched six miles, from Harlem to Herald's Square, dressed as clowns, knights and cowboys. Marching bands and animals from the Central Park Zoo accompanied the parade's first floats: The Old Lady Who Lived in a Shoe, Miss Muffet and Red Riding Hood. The event attracted a quarter of a million people and was deemed a roaring success. Macy's decided...