Word: magnas
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Dates: during 2000-2009
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...their mother's center on the corner of 46th and Greenwood. After the tutoring, everyone would shoot some hoops. Those were his evenings. During the day, Duncan attended the prestigious University of Chicago Lab School, a rigorous K-12 program that led him to Harvard. There he graduated magna cum laude while maintaining his obsession with basketball, co-captaining the team his senior year. After college and a failed tryout with the Boston Celtics, Duncan flew to Australia to play in that nation's professional basketball league. He stayed for four years, playing ball, working with foster kids and eventually...
...were doing some shows at Radio City Music Hall in New York City, and during the commercial breaks I'd go out and talk to the people in the audience. And a little boy stood up and asked, When was the Magna Carta signed? I said 1216. I was off by a year. I know a lot about the Magna Carta, but unfortunately I got the date wrong in front of 6,000 people...
...Merkel's government announced it would bankroll the Magna bid in May, pledging $2.1 billion as a bridge loan to keep Opel afloat, as well as $4 billion in future loan guarantees. The German government also made it clear it wouldn't stump cash for any other bidder. Some politicians accused Merkel of "blackmail" and warned that her government's support for Magna could backfire. Initially, GM had serious reservations about Magna's offer and seemed to favor a rival bid by the Belgian-based investor, RHJ International. One GM official said RHJ's offer was "simple and elegant...
...well ahead in the opinion polls. Opel employs 25,000 workers in Germany - around half of GM Europe's total workforce. German unions threatened mass demonstrations if GM decided to keep Opel, fearing that option would lead to thousands of job losses in Germany. With the green light for Magna, Merkel has received an important psychological boost and can now tell voters on the campaign trail that she managed to save German jobs...
...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...