Word: magnas
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Dates: during 2000-2009
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...decision to back out of the sale of its European operations this week was a huge embarrassment for German Chancellor Angela Merkel. She had thrown her weight behind the bid by the Canadian-Austrian car-parts maker Magna and its Russian partner, Sberbank, to buy Opel and Vauxhall from the beginning, seeing it as the best way to save German jobs and offering both sides billions of dollars in loan guarantees to grease the wheels. Before GM made its sudden U-turn on Nov. 3, Merkel had also been riding high. She was coming off an electoral victory in September...
...rgen Reinholz, the Economy Minister of the eastern state of Thuringia, says GM will likely do this by the end of November. But a huge question for Merkel is whether GM will now receive any of the $6.7 billion in loans the government had previously promised to Magna to seal the deal. The pledge had raised alarm bells in Britain, Belgium and Spain, where leaders feared that Germany was trying to curry favor with Magna and that their countries would bear the brunt of any job losses. When the European Commission said last month that it would launch an inquiry...
...state of Hesse, told the workers that GM couldn't be trusted and that he would fight to save every German job. The strike coincided with GM's announcement that it would shed 10,000 positions at its European plants, roughly the same number of jobs that Magna had planned to cut. GM did not say where the cuts would fall. The company employs 7,000 people in Spain, 5,500 in Britain, 3,900 in Sweden, 3,600 in Poland and 2,600 in Belgium. (See the 50 worst cars of all time...
Born on Dec. 25, 1935, in Brooklyn, New York, Barnett was raised in West Hartford, Conn. and graduated magna cum laude from Harvard College, where he was president of the Harvard Crimson for only two months. The College asked him to step down after he was caught sneaking his girlfriend through a tunnel from his dormitory past the 8 p.m. curfew...
Barnett graduated magna cum laude from Harvard Law School in 1962 and later clerked for the late Supreme Court Justice William J. Brennan...