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...landmark bankruptcy that resulted from lawsuits against Dow Corning over silicone breast implants, landing GM may be an uphill battle. "The [lawyers] for the automobile companies sleep much closer to New York and Delaware than they do to Detroit," says Hugh Ray, a partner at the Houston-based law firm Andrews Kurth who is also admitted to the New York bar. "You're afraid of what you don't know, and it's easy to tell a client they face a great deal of uncertainty, when what they should tell the client is, 'I don't know much about Detroit...

Author: /time Magazine | Title: GM's Potential Bankruptcy: Shopping for a Venue | 4/9/2009 | See Source »

...prosaic. Consider that scores of suppliers could go under if GM does. Or think of the money owed to hundreds of companies that provide all manner of services to GM. One creditor in the Enron bankruptcy was a local lock-and-safe company; another was an airport car-service firm. Hiring out-of-state lawyers, traveling and staying for months in a city far from home - these might be prohibitive costs to outfits already reeling from GM's fate. "There is no district in this country that has a greater stake in the outcome of a General Motors case than...

Author: /time Magazine | Title: GM's Potential Bankruptcy: Shopping for a Venue | 4/9/2009 | See Source »

...test track really did not cost very much compared to Chrysler's total marketing budget which stretched into the tens of millions of dollars each year. But, it looks bad to have the firm's CEO hot dogging in a 4x4 on artificial sand and boulders when he has just taken billions of dollars from the federal government. Even Ford (F), which has not asked the US for a dime, will not be doing much beyond trucking in its latest models and giving them an extra coat...

Author: /time Magazine | Title: Having a Wake at the New York Car Show | 4/9/2009 | See Source »

...collector's items, which kept them going. With their guerrilla lodging site and their cereal boxes, they got on CNN, on many local newscasts and in the New York Times and the Wall Street Journal. And their site grew - enough to garner $20,000 from Y Combinator, the venture firm. (See pictures of the best Obama Inaugural merchandise...

Author: /time Magazine | Title: The New Internet Start-Up Boom: Get Rich Slow | 4/9/2009 | See Source »

...started the movement with the firm resolve that I will never be caught alive by the enemy. That has spread down the ranks." - on the wearing of cyanide capsules by his followers, a tradition he began himself (Los Angeles Times...

Author: /time Magazine | Title: Tamil Tiger Leader Velupillai Prabhakaran | 4/8/2009 | See Source »

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