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...additional financial aid from the government. Companies around the globe - Honda and Audi, to name two - have drawn down racing operations, and NASCAR itself has already felt the pinch in the form of reduced team spending. A complete withdrawal from America's premier racing series is expected to save more than $250 million between GM and Chrysler, a substantial amount considering the drastic measures being implemented elsewhere." [April Fools...
...been blaming the crisis on the immediate villains: banks, investors and derivatives traders who took on more risk than they could handle. A regulatory structure that failed to notice the problems. A global consumer delusion that the bubble could expand forever. (Read "The G-20 Summit: Can This Group Save the World Economy...
...with workers," says Gary Hubbard, spokesman for United Steelworkers. "That's a very fundamental part of his own makeup." When Bloom started working for unions after college during the financial downturn of the early 1980s, he concluded that they were not equipped to do the deals they needed to save their jobs. So after Harvard Business School, he set up a shop at the investment bank Lazard Frères that focused on counseling unions in leveraging their collective bargaining power to maximum effect. He pioneered the deals that took retirement and health benefits off company books and protected those...
...with the S&P 500 dropping nearly 3.5% on fears that bankruptcy was inevitable for GM and Chrysler - a fear that the Administration did little to calm. President Obama, in his speech announcing the deal on Monday, tried to put a good face on things, laying out measures to save the companies, soften the blow to autoworkers and encourage auto sales with guaranteed warranties and car-buying tax incentives. But, he said, "these efforts, as essential as they are, are not going to make everything better overnight. There are jobs that won't be saved. There are plants that...
...wealthy countries, have encountered resistance from his counterparts around the world. Here is a look at four of the biggest challenges facing Obama as he heads overseas on his first major foreign trip, and how he plans to handle them. (Read "The G-20 Summit: Can This Group Save the World Economy...