Word: spd
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...private-equity groups to "swarms of locusts" that fall on companies and devour all they can before moving on. "Some financial investors don't waste any thoughts on the people whose jobs they destroy," said Müntefering, who is chairman of Chancellor Gerhard Schröder's Social Democratic Party (SPD) and who promised to fight against what he called this "anonymous, faceless" form of capitalism...
...critique, just before a key state election that the SPD lost badly, sparked a furor and a nationwide debate about capitalism that continues to reverberate. Initially nervous, Ostmeier and managers at other major private-equity groups in Germany were silent. But these days, Ostmeier is speaking out in public, trying to convince his fellow Germans that private-equity investors are not villains but heroes who are good for the nation because they increase business efficiency. "Germany is now part of the global economy. It's essential to have that debate and come to grips with it," he says. "The part...
...sparsely furnished kitchen, the wiry redhead repeats her response: "I told them, I don't need to see the poster. I've got the original at home." Wolfgang may be the original, but he's by no means the only steelworker to convert to the cdu. The spd lags behind the cdu in the run-up to next week's state elections; the most recent poll gives the cdu a six-point lead in a region where the spd has reigned supreme for nearly 40 years. And if more people like Wolfgang make the switch, Chancellor Gerhard Schr...
...spd swept to national power in 1998, promising economic reforms without social hardship. But unemployment has risen dramatically, and the government has cut unemployment benefits, even as it cut taxes for corporations. That has angered unions and spd rank and file, who've vented their frustrations in a string of recent state elections. The spd lost in Saxony-Anhalt in 2002 and in Lower Saxony - Schröder's home state - in 2003. In April, it was forced into a grand coalition with the cdu in Schleswig-Holstein. The state polls are key to Germany's federal system because...
...Social Democratic Party ( spd) agreed to abandon its Marxist rhetoric and embrace market capitalism in 1959, but casual observers of the current political campaign in North Rhine?Westphalia could be forgiven for not knowing that. Party officials led by chairman Franz Müntefering have delivered a ferocious critique of private investors that has dominated the campaign. In his most cited remarks, Müntefering compared private equity groups and short-term investors like hedge funds to "swarms of locusts" that fall on companies, devour all they can, and then move on. "Some financial investors don't waste any thoughts...