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...Neither can General Motors'. The company is in the process of axing 1,100 of its 6,000 dealers. When the march of time, the sins of management and the scythe of a bad economy conspire to bankrupt once great companies, who pays? The sort of person, in the words of Tennessee Senator Bob Corker, "who ran a profitable business, civic leader, always responsible," who "very unfortunately" is "going to take a lot of pain" for the mistakes of others. A guy like Steve Weinberg. "It breaks your heart," says the Senator. (See the 50 worst cars of all time...
...arrangement: The government would put up the money. The UAW's Voluntary Employee Beneficiary Association (VEBA) - a trust set up at Chrysler and other U.S. carmakers to shift retiree health-care obligations off company books - would own a majority of the shares. Fiat would run the place. And some sort of entity called Chrysler would survive. Despite the protests of some bondholders, the deal was sent to receive the blessing of a bankruptcy judge...
...this is a different year, and Gates is a different sort of Defense Secretary. He warned the legislators that each decision was "zero sum." Any money that went to things he didn't want would come out of programs necessary to support the troops fighting in Iraq and Afghanistan. (Read "Can Robert Gates Tame the Pentagon...
...awful travel gripe? The Avenger may be able to sort it out for you. Click here to tell us your problem...
...awful travel gripe? The Avenger may be able to sort it out for you. Click here to tell us your problem...