Word: sales
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Dates: during 2000-2009
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...list presented to GM by the President's auto task force is stark and steep: shrink labor costs, including retiree health-care expenses; slash debt; kill or sell low-performing brands; and reduce the number of models for sale and the number of dealers selling them. Should GM, the United Auto Workers (UAW) and the company's bondholders fail to figure out how to execute those tasks by June 1, the government will usher GM into bankruptcy, which could lead to its breakup into "good" and "bad" subsidiaries. The bad would be sold for parts...
...equity firm Quadrangle Group, and Ron Bloom, an investment banker who previously worked for the United Steelworkers union. Staffed by about 15 restructuring and other experts, the task force aims to do two things in the weeks ahead. First, it will try to close the deal on Chrysler's sale to Fiat. Sources familiar with the task force's approach describe Chrysler as "hollowed out" by a succession of owners and largely worthless, with no quality brands other than Jeep and little hope of restructuring itself into a viable concern...
...Bloom has taken the lead in trying to negotiate the sale of 20% (at least initially) of Chrysler to Fiat. His position has been undercut by Chrysler's tenuous finances, leaving Fiat holding the cards at the negotiating table. The $6 billion sweetener from the government essentially amounts to a dowry for Fiat to take the ugly bride off America's hands...
...smart as Larry Summers. We procrastinate. Our impulsive ids overwhelm our logical superegos. We plan to lose weight, but ooh - a cupcake! We're especially irrational about money; we'll pay more for the same thing if we can use a credit card, if we think it's on sale, if it's marketed with photos of attractive women. No wonder we apply for mortgages we can't afford. No wonder our bankers approve them...
...precarious than Shore let on, due to the endowment slump and collateral requirements on derivatives holdings. According to media reports, Harvard had a negative 5 percent cash reserve as of June 30, indicating that the University was over-leveraged in its investments. A recent Bloomberg analysis of the bond sales noted that Harvard’s debt paid out higher interest rates compared to a similar $1 billion bond issuance by Princeton five weeks later, a difference it attributed to Harvard’s derivatives “mishaps.”But Princeton controller Kenneth Molinaro said that markets...