Word: move
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...term fix of, say, $15 billion, is approved to keep Detroit going until the end of March, there is still disagreement over many details. Republicans want to take the money from a $25 billion modernization fund set up earlier this year, but environmentalists are adamantly opposed to such a move. And as House Speaker Nancy Pelosi's office pointed out, the companies factored in using at least $21 billion of those funds to get back on their feet in plans they submitted Tuesday to Congress...
...overall, if you build the cars you can make rather than the cars the public truly desires, you have to price them that way and use rebates to move the metal off the lots. "They are building cars that they don't want to build. They have to build them because they have a fixed cost structure to amortize," says Nick Gidwani, a former auto-industry investment banker with Sankaty Advisors and now head of the startup auto-sales website CarZen. Particularly after the post-9/11 sales slump, Detroit got addicted to this strategy and used it to move...
Maybe so. But given the much steeper cuts that other central banks are making, the ECB move still seems modest in the face of the economic erosion under way. The Bank of England cut its key rate by one percentage point to 2% today, while Sweden's central bank cut its key rate by 1.75 percentage points. The U.S. Federal Reserve's main lending rate now stands at 1%, the lowest level in five decades...
Democrats prefer to use money from the $700 billion that was approved in September to bailout the banking system, a move opposed by President Bush, Treasury Secretary Henry Paulson and most congressional Republicans. In the Senate, especially, Dems need at least nine Republicans to pass veto-proof legislation, assuming they can count on all their members, which makes coming to a deal in a lame-duck session particularly difficult. Other options Democrats are exploring include asking the Federal Reserve to supply the loans or requiring the banks that the government is currently bailing out to loan the money...
Still, Talabani's move is a brazen attempt to clip Maliki's wings. The Prime Minister "is not budging and remains adamant that creating these councils is legal," Talabani was quoted by the Associated Press as saying in the Kurdish city of Sulaimaniyah on Monday. "We will go to the federal court to see whether this is indeed the case...