Word: nationalization
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...Gilt Groupe was born as the first online, nation-wide sample sale. Maybank and Wilson launched their company with seven employees and now, nearly two years later, Gilt Groupe encompasses a staff...
...England Rugby Football League (NERFU) Northeast Division 2 squad is off to a torrid start and has launched itself into the national rankings with a 3-0 campaign thus far. As of Oct. 1, Rugby Magazine had Rad Rugby pegged as the third best team in the nation among D-II squads—the highest mark ever in a decade for the Crimson women—and this ranking certainly won't drop after the squad's latest victory at home against Bates on Sunday. Read on after the jump to hear some player's thoughts on the achievements...
...decree shutting down the company. A special edition of the government gazette decreed that because of inefficiency and unacceptable losses, the state-run utility that provides power to 25 million people in the heart of Mexico had ceased to exist. Its 44,000 employees were immediately terminated, depriving the nation's oldest industrial trade union of its entire membership. The plants were kept running by federal electricity workers bused in to take over...
...dramatic move against Mexico's Light and Power monopoly divided public opinion in a nation gripped by a crippling recession. Supporters hailed the move as the pro-business President Felipe Calderón's boldest and most effective step toward modernizing the economy - and exorcising the remaining ghosts of the 71-year political monopoly of the Institutional Revolutionary Party (PRI) that ended in 2000. The company and its union, they argue, were self-serving, inefficient cartels holding Mexico back. It employed too many at inflated wages, they argue, and provided a terrible service characterized by daily blackouts and power surges...
...decree closing down the utility company makes little mention of the union, focusing instead on the losses incurred by the company. Between 2003 and 2008, Light and Power had spent about $32 billion - mainly on salaries and pensions - and only collected half that amount in revenues. The nation could not afford such inefficiency amid an economic crisis, Calderón said...