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...boom has come to a halt. On Oct. 13 Opel suspended production at Eisenach for three weeks to help sell off a stockpile of excess cars, hundreds of which crowd a parking lot inside the factory complex. Opel electrician Katrin Huber, 29, isn't happy about this vacation. "The plant shutdown is going to cost me more than $400," she says. "But worse is that we just don't know what the future holds. I'm afraid that the plant could close...

Author: /time Magazine | Title: Postcards from Europe's Financial Bust | 10/15/2008 | See Source »

Until June, the local Opel plant was enjoying a record year as Germany's economy hummed healthily along. In April, the company turned up the speed on its assembly lines to churn out even more cars. Instead of shutting as usual for three weeks during the summer, Opel closed the plant for just two and hired temps to supplement its full-time workforce...

Author: /time Magazine | Title: Postcards from Europe's Financial Bust | 10/15/2008 | See Source »

...plague and occupied by both the Nazi and Soviet armies. Today, this city of 62,000 faces another catastrophe, all thanks to the woes of its meat factory. Employing 650 people directly and providing a livelihood to hundreds more - from local farmers to shopkeepers - the Zalabaromfi meat-processing plant has long been one of Zalaegerszeg's most important businesses. But the credit crisis has complicated a long-running dispute between Zalabaromfi and Hungary's second largest commercial bank, CIB, over a credit line the plant says it needs in order to keep running. Factory operations have been on hold since...

Author: /time Magazine | Title: Postcards from Europe's Financial Bust | 10/15/2008 | See Source »

...would also stop collecting Criminal Offender Record Information (CORI) reports on such crimes. We applaud the idea of reducing these restrictions, and recommend that the state and federal government consider going much further. The strict laws restricting marijuana possession have caused far more damage to society than the harmless plant itself could ever do. The current laws, under which possession can be punished by up to six months in jail and a $500 fine, are a waste of state resources. According to a study by Harvard professor of economics Jeffrey A. Miron, the measure could save the state almost...

Author: By The Crimson Staff | Title: A Fully Baked Proposal | 10/14/2008 | See Source »

...talked to us about it," said the official who asked not to be identified. "I don't see what we get out of it. We're both way too dependent on trucks and sport utility vehicles," noted the union official who represents Chrysler workers at a plant near Detroit. There are fears that a merger would simply be a way to reduce the workforce. Chrysler has eliminated 22,000 jobs since Feb. 2007, reducing its ranks by approximately 66,000 employees. The company also plans to eliminate another 4,000 jobs next year, making it half the size...

Author: /time Magazine | Title: How Likely is a GM-Chrysler Merger? | 10/13/2008 | See Source »

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