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Indeed, to understand the evolution that led to Tuesday's announcement, it is worth returning to the 2005 negotiations in which GM was forced to buy itself out of the cumbersome put option in its alliance with Fiat. The then brand-new CEO of the Turin company, Sergio Marchionne, emerged as a tough-as-nails dealmaker as he sat across the table from top GM executives. The Italian-born, Canada-raised Fiat chief told his American counterparts they would cough up the full value of the put option or battle it out in court. GM blinked, and the huge payout...

Author: /time Magazine | Title: Fiat to Take 35% Stake in Chrysler | 1/20/2009 | See Source »

...Universal contract player in 1955, doing bit roles in movies starring giant spiders (Tarantula) and talking mules (Francis in the Navy). He settled into the saddle as ramrod Rowdy Yates, second lead in the cattle-drive TV western Rawhide, a job that guaranteed a paycheck but deferred movie fame. Sergio Leone changed all that when he paid Eastwood $15,000 to play a misanthrope with a gun, wiping out two teams of bad guys, in Fistful of Dollars. By the time he'd done two more Leone westerns, For a Few Dollars More and The Good...

Author: /time Magazine | Title: The Essence of Clint Eastwood | 12/4/2008 | See Source »

...Meanwhile, the European Investment Bank is set to pledge $2.5 billion to help the continent's auto industry develop more environmentally friendly cars, according to Reuters. That support could help struggling companies stay in the race to bring greener vehicles to market during a global economic downturn. Fiat CEO Sergio Marchionne summed up the situation in simple terms: "Either [aid] is for everyone...

Author: /time Magazine | Title: Detroit Bailout Fueling Trade Tensions with Europe | 12/2/2008 | See Source »

...revelations of the breadth of the corruption - including allegations that officers under Mexico's Public Security Minister, Genaro Garcia Luna, were involved in high-profile kidnappings - seem to make a mockery of Calderón's efforts to stamp it out. "This is Calderón's Iraq," says Sergio Aguayo, a security expert at the Colegio de Mexico in Mexico City. "He declared war against the cartels, but he wasn't prepared for the size of the threat the cartels turned out to represent." Many cases in the latest purge, which is indeed called Operation Housecleaning, are based...

Author: /time Magazine | Title: In Mexico's Drug War, Bad Cops Are a Mounting Problem | 11/22/2008 | See Source »

...Staff Sergeant Aubrey Stamps (Derek Luke), Sergeant Bishop Cummings (Michael Ealy) and Private Sam Train (Omar Benson Miller) - make it across a river and into a remote village. There they fend off the Germans and mix with the locals, especially the fierce Renata (Valentina Cervi), the crafty Partisan Rodolfo (Sergio Albelli) and 8-year-old Angelo (Matteo Sciabordi), whose life Train saves...

Author: /time Magazine | Title: Spike Lee Goes to War with Miracle at St. Anna | 9/25/2008 | See Source »

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