Word: generalizing
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...dined and courted by congressional leaders and Presidents - nearly all Republican - and backed by a large lobbying apparatus in Washington. He will appear not as a genius of finance but as the deposed chairman of a defamed colossus who still faces a civil lawsuit by the New York attorney general's office over accounting issues...
...question is whether any U.S. automobile manufacturer will live long enough to enjoy it. President Barack Obama would rather bridge General Motors to the future than see it collapse, but he has now made it clear that the GM we know and don't really love is finished. So is GM CEO Rick Wagoner, who was told to hit the road, his three decades of service to GM - and strong support within the industry - now considered a liability. "This is not meant as a condemnation of Mr. Wagoner, who has devoted his life to this company," Obama said in condemning...
...Boom Once the dust settles, the new GM, or whatever replaces it, is likely to see a marketplace of consumers finally ready to spend money on new cars. GM's executives aren't entirely off base in thinking that pent-up demand is building, because it is. "Assuming general economic recovery, in the developed markets we will see maybe 95% of what it had been," says John Paul MacDuffie, an associate professor of management and co-director of the International Motor Vehicle Program at the Wharton School of the University of Pennsylvania. U.S. auto and light-truck sales topped...
...cash payments to CDS [credit-default swap] counterparties should never have occurred," Greenberg told a House oversight committee. Greenberg is not alone is raising questions about profits that financial firms have been making on the unwinding of AIG's derivative bets. Last week New York attorney general Andrew Cuomo said he was looking into AIG's trading records to examine whether the payments the company made to other financial firms were improper. (Read "How to Know When the Economy Is Turning...
...contributors to economic development. The Malaysian Trade Union Congress (MTUC) once campaigned for the protection of migrants' rights. But now they too are sounding alarm bells about the threat illegal workers pose to ordinary wage-earning Malaysians. "Many remain in the country," says Rajasegaran Gopal, the MTUC's secretary general. "We have a foreign worker time bomb ticking away...