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...Take, for example, the 1999 collapse of South Korea's gargantuan Daewoo Group in the wake of the Asian financial crisis. The end of Daewoo, one of the country's four largest industrial conglomerates, was a shocker, but not because anyone was surprised by Daewoo's abysmal financial condition. That was obvious. The group was amassing dizzying amounts of debt in an ill-conceived global expansion (especially at its car company). A year earlier, I had called Daewoo's madcap strategy "corporate suicide" in the Wall Street Journal. The surprise was that policymakers and bankers had the guts to allow...
...members, SAG is the nation's largest actor's union, ahead of the 70,000 strong American Federation of Television and Radio Artists (AFTRA). The current leadership's concern over digital media residuals is a valid one, though many A-list SAG members question the timing of holding a strike now, during a recession. Actress Rhea Perlman and husband Danny DeVito recently wrote a letter imploring the union to achieve a settlement with the studios rather than strike: the letter was seconded by such box-office draws as Tom Hanks, George Clooney, Cameron Diaz, Matt Damon, and Morgan Freeman...
...Screen Actors Guild (SAG) prepares to announce the nominees for its annual awards ceremony on Dec. 18, it is not in such a celebratory mood. Hollywood's largest actors' union is currently grappling with whether or not to go on strike against studios over revenue from online films and television shows - the same issue that compelled writers to strike for 100 days earlier this year. On Dec. 15, a New York City SAG town-hall meeting devolved into a heated back and forth between union President Alan Rosenberg - who is planning to spend $100,000 of the group's money...
...amazed that TIME's story made no mention of the Big Three's most obvious and most easily remedied failure: clueless marketing. Consider that GM, arguably the world's biggest car company, is worth far less today than Harley-Davidson, the world's fourth largest motorcycle maker. Dexter Ford, Manhattan Beach, California...
...Parliament is scheduled to begin debating the bill today, more than a week later than intended. The reform would have overturned a 1906 law that sets aside Sunday for rest and allowed shops in France's largest cities to open as they wished. But it faced fierce opposition from both the left and right. Socialist legislators have already filed over 4,000 amendments to the draft law, while members of Sarkozy's own ruling conservative majority have used a mix of religious and familial concerns to oppose it. With the number of right-wing dissenters growing ever larger, Sarkozy...