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...total of $17.4 billion in loans in exchange for concessions from the ailing companies and their workers. A majority of the funds will be offered to General Motors and Chrysler LLC immediately, with another $4 billion to be made available pending what the White House considers a viable recovery plan...

Author: /time Magazine | Title: In the Nick of Time: Bush Announces Auto Bailout | 12/19/2008 | See Source »

...with nearly 100,000 employees at the time, was considered by politicians too big to fail. It was only after Japan began solving its zombie problem, rather than perpetuating it, that the country's financial crisis was finally resolved. (Daiei eventually was pushed by its creditors into a workout plan sponsored by a state-linked restructuring agency...

Author: /time Magazine | Title: Why Detroit Is Not Too Big to Fail | 12/19/2008 | See Source »

...Dean Michael D. Smith announced a freeze on faculty salaries and cut 70 percent of faculty searches earlier this month, just weeks after freezing staff hiring in the school. Two weeks ago, Harvard Medical School and FAS administrators asked their departments to plan for 10 percent budget cuts in light of the deteriorating financial situation. And last week, the Harvard Kennedy School announced it would freeze salaries and slow or stop faculty and staff hiring except in cases of "extremely high strategic priority...

Author: By Bonnie J. Kavoussi, CRIMSON STAFF WRITER | Title: Yale Loses a Quarter of its Endowment | 12/17/2008 | See Source »

...policy terms, December, 2008 is not turning out to be a keeper for French President Nicolas Sarkozy. Less than 24 hours after his government was forced to delay much touted education reforms in the face of protests by high school students, Sarkozy was forced to make big concessions to plans to legalize Sunday trading in France. Far from the sweeping liberalization Sarkozy had called for as part of his plan to let French employees "work more to earn more", the compromise bill will modestly augment the number of exceptional Sundays shops are already permitted to open...

Author: /time Magazine | Title: Sunday Shopping? France Says Non | 12/17/2008 | See Source »

...Opinion polls in France show that slightly more than half the population want shops to have the freedom to open on Sundays. But a powerful range of opponents combined against the idea. Leftist politicians and unions, for example, denounced the plan as introducing a seven-day work week. That, they say, would allow bosses to force workers to work Sundays - despite measures in the original bill that stipulated Sunday hours were both optional, and higher-paid. Conservatives, meantime, brushed off Sarkozy's assurances that the extra day of activity would boost France's economy, and focused on the fact that...

Author: /time Magazine | Title: Sunday Shopping? France Says Non | 12/17/2008 | See Source »

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