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...This deal seems to be yet another sign of how hard the global automotive industry has been hit by the recession. The news of the Porsche-VW merger follows the announcement earlier this week by Italian carmaker Fiat that it wants to acquire U.S. automaker Chrysler, which the U.S. government forced into bankruptcy protection last week, and GM Europe. Fiat wants to merge with Chrysler and GM's Opel to create one of the largest car companies in the world. (See Chrysler's top ten moments...
...epic battle between Porsche and VW is emblematic of the easy money days automakers were enjoying before the financial crisis hit. With annual sales of more than $151 billion, Volkswagen is Europe's biggest carmaker, 16 times the size of Porsche, which generates annual sales of about $9.3 billion. But through a series of highly leveraged financial deals that began in 2005, Porsche acquired a voting stake of 50.8% in VW. In January, Porsche said it planned to raise its stake to 75% this year...
Budget cuts hit UChicago's "Social Sciences nad Humanities" the most
...like Google Flu Trends may be useful, health officials need to remember that the service tracks searches, not confirmed cases of illness or even symptoms that are severe enough to bring a person to the emergency room. Earlier this flu season, for example, when reports of avian influenza overseas hit the news in the U.S., there was a spike in bird flu queries online in New York City. "The system only tells you what people are interested in reading or learning about," he says...
Pakistan's President, Asif Ali Zardari, arrives at the White House on Wednesday as one of his country's walking wounded. Amid rising violence and turmoil, his popularity among his own people has hit rock bottom; political allies and rivals alike smell blood in the water; the country's military barely pretends to follow his instructions; the Taliban controls large swaths of his country's territory; and militant groups want his head - literally. So, can Pakistan's President expect some TLC in Washington? From the White House, perhaps, but Capitol Hill has little love left for Zardari...