Word: road
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...that only after his ouster in March 2005 did the company's troubled FP unit fail to put up sufficient collateral to cover potential losses from the increasing number of loans backed by subprime mortgages. "You want to make sure you don't have any unexpected surprises down the road," he told TIME in a recent interview...
...enjoy it. President Barack Obama would rather bridge General Motors to the future than see it collapse, but he has now made it clear that the GM we know and don't really love is finished. So is GM CEO Rick Wagoner, who was told to hit the road, his three decades of service to GM - and strong support within the industry - now considered a liability. "This is not meant as a condemnation of Mr. Wagoner, who has devoted his life to this company," Obama said in condemning him. "Rather, it's a recognition that it will take...
...life. America is becoming a rolling junkyard; the average car is 9.4 years old, a new record, says Buscher. "Light trucks are 7.5 years old. They haven't been that old for 10 years," he adds. In two years, says an industry economist, 35 million cars now on the road will be at least 10 years old. There's not enough duct tape in America to hold that much junk together. Even if they don't conk out, keeping these beaters going becomes an increasingly expensive proposition...
...result, more cars are being taken off the road than are being manufactured. There are 245 million to 250 million vehicles on the road in the U.S., and roughly 5% are scrapped every year. Even with improved vehicle quality, that ratio is not really budging. Stuff wears out. So some 12 million to 12.5 million vehicles disappear annually; yet this year, no more than 9 million are being built to replace them. Next year, production will be 10 million or so, still less than the removal rate...
...sword from a monkey-fur scabbard, and waves it over his head, dancing. In broken Hindi, he calls out: "Hey! Next time, you bring me a foreign woman!" The Nishi has been impressed by the posters of Britney Spears and Christina Aguilera in a tea shop up on the road, and believes they may be worth a few wild cattle in trade. As we head into the current, a few younger Nishi gather on a bamboo suspension bridge above us, snapping photos on cell phones pulled from their monkey-fur pouches; in our wetsuits and helmets we are just...