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...Still, even the chancellor admitted the "new beginning wouldn't be easy." Under the deal, Magna and Sberbank will own 55% of the "New Opel", GM will keep 35% and the company's workers will take a 10% stake. GM's chief negotiator John Smith, who flew in from Detroit for a Berlin news conference, said Magna had come up with the best offer. "Magna has a great manufacturing culture and it enjoys the support of German labour unions, and the funding is there. It makes sense," said Smith. But he also warned of job-cuts. Magna's bid outlined...

Author: /time Magazine | Title: GM Accepts Canadian-Russian Bid for Opel | 9/11/2009 | See Source »

...ground running after a nice, long summer, let’s consider a hypothetical. A group of representatives from People for the Ethical Treatment of Animals (PETA) walk into an advertising agency—say the firm from “Mad Men.” John Hamm’s character sits staring across the table, trying to act like he doesn’t want a cigarette, and he says to PETA, “Now tell me, who exactly would you like your ads to target? Because as of now, it seems to me you?...

Author: By Andrew F. Nunnelly, CRIMSON STAFF WRITER | Title: Saving the Animals by Acting Like One | 9/11/2009 | See Source »

...Probably his most fascinating—and simplest—story is that of the Rembrandt. After robbing the Woolworth family estate in Maine, Connor found himself in trouble. A friend, John Regan of the Massachusetts State Police, made a throwaway quip that Connor took a little too seriously. “John said to me ‘Myles, to get you out of this situation, it’ll take a Rembrandt,’” Connor recalls...

Author: By Antonia M.R. Peacocke, CRIMSON STAFF WRITER | Title: The Harvard Job | 9/11/2009 | See Source »

...bigger picture, though, consider a GM dealership that was run by three brothers and closed down in November 2008, taking with it 26 jobs. One brother, John Boyette, moved out of town in search of work, while another, Norman, is selling used cars for a dealer in Cary, 50 miles away. "We're getting along the best we can now," says Norman. It's axiomatic that if the local dealership can't sell cars, then GM doesn't need as many parts from Eaton, which then doesn't need as many Brian Whitfields...

Author: /time Magazine | Title: The Ripple Effect: What One Layoff Means For A Whole Town | 9/11/2009 | See Source »

...take long for the condemnations to rain down on Wilson. Republican Senator John McCain went on CNN to call Wilson's behavior "totally disrespectful" and to ask for an apology. Democratic Senator Patrick Leahy was beside himself as he walked out of the House chamber. "I've been here for 35 years. I've been here for seven presidents. I've never heard anything like that," he said, adding that he had no doubt how it would play in the hinterlands. "It strengthens the President, because it demonstrates what he is facing. Most people have respect for the President...

Author: /time Magazine | Title: 'You Lie!': Representative Wilson's Outburst | 9/10/2009 | See Source »

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