Word: koch
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...part of its effort to reorganize under Chapter 11 of the bankruptcy code, GM has named Al Koch, a partner in J. Alix & Associates, a Detroit-based turnaround firm, to serve as chief restructuring officer. Koch, who has served as the undertaker for dozens of other firms over the years, including Kmart, will be responsible for laying to rest what is already being quaintly referred to as the old GM and what will no doubt be a mountain of liabilities. (See pictures of GM factory-scapes...
...election in Hesse comes after a protracted period of splits and dissent in the party nationally and at state level. In Hesse, the party tried to unseat the incumbent CDU state premier Roland Koch by forming a minority government with the Greens that also depended on the tacit support of die Linken - "the Left" - an alliance of former East German communists and former members of the SPD. The attempt failed amid much acrimony, spooking moderate SPD voters, and doubtless contributed to the party's worst-ever result in Hesse, at 23.7% of the vote...
...good news for Merkel. Although Koch retained power in Hesse, the CDU's share of the vote remained static. The biggest gains were posted by smaller parties like the FDP, the Greens and the Left. In such turbulent times, voters might be expected to turn out in their droves. But voter participation in Hesse was only 61%, the lowest turnout ever recorded in the state. "The federal election will depend on which parties can mobilize voters but for the moment only the small parties are doing so - especially the FDP and the Greens," said Peter Lösche...
...contains a very profitable tourist route for high-end cruises. On Tuesday, the 246 passengers aboard the cruise ship MS Columbus, owned by the German firm Hapag-Lloyd, were flown to Dubai in order to avoid the danger zone. The secretary-general of the German tourist federation, Hans-Gustav Koch, claimed that in order to cope with the pirates, “We want escorts.” Both the U.S.’s diplomatic initiative at the UN and the EU’s military efforts will improve the security for transnational movements in the area. But that...
...lending it out but are instead holding on to it to buttress their balance sheets. Since consumers and businesses are so starved for credit, the banks that do want to lend the money forward are finding some ability to charge rates at a greater premium to prime, says Koch, but that doesn't necessarily make up the entire gap. Banks in general are still spooked by loans gone bad and nervous about lending to individuals and businesses without top-tier credit scores...