Word: staking
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...provide Opel with emergency funding and keep GM's European operations running. On top of that, the German government will give $4.3 billion (€3 billion) in loan guarantees. The Canadian firm would own 20% of the new group, Russia's biggest lender Sberbank would have a 35% stake, GM would keep a 35% stake in its European arm, and Opel workers would have 10%. (See pictures of the dangers of printing money in Germany...
...total cost for Canada of restructuring GM to $9.5 billion, including $450 million in emergency funding already used by the car company, compared to $49.8 billion promised by the Obama Administration. In exchange Ottawa and the province of Ontario, where GM Canada has all its operations, receive a 12% stake in Detroit-based GM, representation on the new board and the promise to keep 16% of the struggling automaker's production in Canada as it restructures in coming months...
...health care of thousands of retired autoworkers is about to change: on May 29 the membership of the United Auto Workers overwhelmingly approved a restructuring plan with GM, according to UAW president Ron Gettelfinger. The plan gives the union's health-care vehicle some promissory notes, plus a 17.5% stake in GM and warrants to purchase another 2.5%. (See TIME's photo-essay "General Motors Factory-scapes...
...Pentagon was good at some things, dreadful at others. It is better now, but there are lives at stake every day. Gates keeps track of those killed and wounded on his watch. He knows the exact numbers. He can get misty talking about the troops he's met downrange, young people the same age as the carefree students he supervised at Texas A&M, "which makes this all so much harder," he says. They - not future fights with China, not last week's tactics in Afghanistan - light up his eyes. He won't be abandoning them anytime soon...
...care? Some blame the E.U. as a whole for appearing remote, abstract, bureaucratic and dull. The Parliament itself is all of that - and less. It lacks visible personalities, and doesn't even have a ruling party or opposition to make it clear what is at stake. Instead, power is split among the big political groups - the conservatives, the liberals and the socialists - who rule largely by consensus. "This makes it difficult for people to see how their vote matters," says Karel Lannoo, CEO at the Centre for European Policy Studies think tank. "Since they do not do anything like elect...