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General Motors' recent 10-Q financial report, filed with the Securities and Exchange Commission, details the company's slide toward insolvency, indicating GM had only $16.9 billion in ready cash reserves in place as of Sept. 30. Buried in the same voluminous report is a note indicating that GM has tucked away another $13.5 billion, in trust, to pay for health care for current and future blue-collar retirees covered by labor contracts with the United Auto Workers...
Read "As GM and Ford Report Big Losses, Pressure for a New Bailout Grows...
...right? I'd go with the locally based economists. While the U.S. fiscal package is unlikely to add even 1 percentage point to American growth, a recent report by Merrill Lynch estimates that the $600 billion stimulus Beijing unveiled in mid-November will likely add 3 percentage points. (And that was before China's provinces unveiled their own $1.4 trillion bailout plan, which depends on a massive infrastructure-building spree to boost the economy.) Such growth would be unachievable in other economies. But China remains a special mixture of raging capitalism resting on a foundation of state domination. "People...
...loss of half the Aral Sea to Soviet-era irrigation, and the melting of the Himalayan glaciers (which feed rivers from which 500 million people draw water); and there are Chinese plans to dam the upper Mekong, halving water flow to 65 million Southeast Asians. In a 2003 report, the U.N. Environment Program said water shortages already affected 400 million people and predicted that number would multiply tenfold by 2050. At that time, more than a sixth of the world's population, 1.1 billion people, had erratic supplies of clean water or none at all. UNEP chief Klaus Toepfer warned...
Nevertheless, the reefs are declining because of human activity. A 2008 report by the National Oceanic and Atmospheric Administration concluded that half of the U.S. reef ecosystem is in poor or fair condition and it foresees no improvement in the future. "Reefs all over the world and in the U.S. are suffering," says Dr. Richard Dodge, dean of Nova Southeastern University's Oceanographic Center in Dania Beach, Fla. Vessel-related damage continues to be a big problem, and the two latest incidents are just "one more nail in the coffin...