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...least one thing is clear: the German government wants GM to pay back the $2.2 billion bridge loan that Berlin gave it a few months ago to keep Opel's business afloat. Jürgen 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...
...what some analysts are hailing as a sign of U.S. economic recovery, General Motors, Ford Motor Co. and Toyota all reported a rise in sales in October compared with the same month last year, despite a sharp slump following the end of the Obama Administration's Cash for Clunkers incentive program in August. Ford--the only Detroit automaker to avoid bankruptcy and federal bailouts--reported $1 billion in third-quarter profits, helped in large part by an increase in market share as Chrysler's sales continued to lag. GM, the nation's largest car manufacturer, posted its first year-over...
Earlier this month, UC insiders had already predicted two of the tickets from within the UC—John F. Bowman ’11 with Eric N. Hysen ’11 , and George J. J. Hayward ’11 with Felix M. Zhang...
...Lowdown: Less than a month after the Pentagon celebrated meeting its annual recruiting goals for the first time since 1973, this report serves as a grim reality check. "During economic downturns, higher numbers of well-qualified candidates seek to enlist and the military can temporarily rely less on waivers for those with academic deficits or criminal records. But a weak economy is no formula for a strong military. Once the economy begins to grow again, the challenge of finding enough high-quality recruits will return...
...Venezuela, just as many middle-class Venezuelans are leaving. A report by the Latin American & Caribbean Economic System, a multi-lateral organization based in Caracas, finds that from 1990 to 2007, Venezuelan emigration to developed countries rose 216%. Erick Castro, a Caracas-born engineer, left for Canada last month thanks in large part to the Venezuelan capital's out-of-control violent crime, 30% annual inflation and what he insists is the Chávez government's hostility to private enterprise...