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...clear: the German government wants GM to pay back the $2.2 billion bridge loan that Berlin gave it a few months ago to keep Opel's business afloat. Jürgen Reinholz, the Economy Minister of the eastern state of Thuringia, says GM will likely do this by the end of November. But a huge question for Merkel is whether GM will now receive any of the $6.7 billion in loans the government had previously promised to Magna to seal the deal. The pledge had raised alarm bells in Britain, Belgium and Spain, where leaders feared that Germany was trying...
Toward the end of his career, a tennis commentator said Agassi went from "punk to paragon." Agassi, who has dedicated his post-tennis life to expanding the Las Vegas charter school he founded, hated that handle. He insists the Agassi of the mullet and acid-washed jeans wasn't a punk; he was just lost. And "paragon" is simply hyperbole. Agassi's evolution, however, is still striking. So we'll offer him a more fitting, if less catchy, epithet: from anguished soul to outstanding author...
...medium-size businesses. The Nov. 1 filing by the century-old firm marks the government's first loss stemming from the Troubled Asset Relief Program (TARP), designed to stabilize major businesses during the height of the economic meltdown. CIT says it hopes to emerge from bankruptcy by year's end. More government losses could follow as bailout recipients such as Chrysler and AIG continue to struggle. Still, analysts say it could have been worse: CIT sought more bailout funding last summer, but the government declined...
...what some analysts are hailing as a sign of U.S. economic recovery, General Motors, Ford Motor Co. and Toyota all reported a rise in sales in October compared with the same month last year, despite a sharp slump following the end of the Obama Administration's Cash for Clunkers incentive program in August. Ford--the only Detroit automaker to avoid bankruptcy and federal bailouts--reported $1 billion in third-quarter profits, helped in large part by an increase in market share as Chrysler's sales continued to lag. GM, the nation's largest car manufacturer, posted its first year-over...
After coming to the United States not knowing English, let alone football, he helped Harvard to back-to-back Ivy League titles in 2007 and 2008. With all the odds he’s already overcome, the senior running back deserves better than to watch his career end with a lisfranc (mid-foot) sprain suffered last week during practice...