Word: reliefers
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...cease-fire proved to be untenable. "Calm for calm" - as Israelis call the agreement to simply refrain from military strikes and rocket fire - didn't work for Hamas, since it was unable to deliver economic relief to the long-suffering Palestinian civilian population. Indeed, the renewed campaign of rocket fire by Hamas was widely interpreted as a bargaining tactic aimed at securing more favorable truce terms, particularly lifting the economic siege. Israel, in the meantime, suffered from confusion in its goals. On the one hand, it wanted to destroy the Hamas government; on the other hand, it sought to coexist...
...Cerberus is backing out of those arrangements, ceding some control of its Detroit institutions in return for rich infusions of government aid. The first infusion came on December 19th when President Bush announced that Chrysler, along with GM, would receive $13.4 billion of emergency loans from the Troubled Asset Relief Program (TARP) after Congress had refused to pass a separate bailout bill. On Christmas Eve Cerberus got another last-minute gift when the Federal Reserve Board voted to permit GMAC to change its status to a bank holding company. (GM still owns 49% of GMAC). (See pictures of the remains...
...opening in 2010-11, will be put off," says Jain of JLLM, "They will face constraints in terms of financing and ability to complete projects, as well as downbeat forecast for the sector. This will reduce the pressure on [room rates] by keeping competition down." That may be a relief to some players, but will be small consolation for the industry as a whole...
...plan will move $13.4 billion in funds from the Troubled Asset Relief Program (TARP) to GM and Chrysler, with GM getting $9.4 billion and Chrysler $4 billion. The money will be in the form of three-year loans, but the terms permit the Obama Administration to demand earlier repayment - presumably triggering bankruptcy - if it believes the restructuring goals are not being met. The near-term target is a March 31 deadline for the automakers to show a plan for achieving long-term viability. Based on White House and Treasury descriptions of the plan, this will be less an acid test...
...slammed New Hampshire and parts of Maine, Massachusetts, New York and other states, leaving nearly 1.5 million people without power. With some calling it the worst ice storm the region has ever seen, President Bush declared a state of emergency in several areas and asked FEMA to provide relief. With forecasts calling for possible snowstorms, utility officials worked to restore power by week...