Word: shutdown
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...parts of the GM restructuring the the company can claim are firm are the closing of some brands including Saturn and Hummer, the shutdown of several factories, and the firing of 47,000 people. (See pictures of autoworkers...
Sure, liquidators can seem ghoulish - after all, they depend on companies to perish. And the job doesn't sound dignified or sexy. But it surely pays these days; the going-out-of-business business is booming. Circuit City, which announced its shutdown last week after filing for bankruptcy in November, is the latest prime catch. The four liquidation firms that scored the Circuit City contract - it's too big for one company to handle - must clear $1.7 billion worth of merchandise out of 567 stores nationwide. (See the top 10 financial collapses...
...fall. Some crops that need the whole growing season would not reach fruition and there would be no yield. Others would grow more slowly and produce a small yield. In addition there would be less precipitation and it would be darker, also damaging yield. You compound that with [the shutdown of] the current global network of food trading - countries would likely stop shipping food and focus on feeding their own populations - and it's a big crisis. We don't have the resources to do detailed analyses on the impacts of crops in different farming regimes but this suggests...
...1800s, it stood by while banks failed. That's not a real option today. The modern world simply isn't prepared to survive a financial shutdown. But handing banks cash and hoping things will work out is no solution either. What's needed is a new beginning: new management, new investors, new boards of directors, in some cases new institutions. That's how Citi, and the financial system in general, returned to health in the past. And that's what the next stage of the bank bailout will have to emphasize if it's going to stand a chance...
...Dodge's parent company, Chrysler, isn't quite so optimistic. On Dec. 19, the Big Three automaker closed all of its factories for a month - twice as long as the usual year-end shutdown. Chrysler's sales were down 47% in November, even worse than the 37% decline for the industry over all. And all the grim headlines about Detroit's uncertain future aren't helping local salesman. At this sprawling dealership in suburban Kansas City, the biggest problem facing auto salesmen is squeamish buyers spooked by too much talk about bailouts and bankruptcies. "Our problem is getting them...