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...like Charles Schumer of New York suggested that the most realistic solution would be to appropriate just enough money to keep the companies alive until early next year, when a new Congress and Administration can tackle the complicated issue in a more comprehensive fashion. But even if a short-term fix of, say, $15 billion, is approved to keep Detroit going until the end of March, there is still disagreement over many details. Republicans want to take the money from a $25 billion modernization fund set up earlier this year, but environmentalists are adamantly opposed to such a move...
...Failing to cure themselves of the Not Invented Here disease, Detroit's bosses resorted to Hail Mary attempts to fix what were long-term issues. "They were constantly looking at buy, sell, hire, fire, looking to be rescued from their predicament," says Spear. On the buy side, GM CEO Roger Smith acquired Hughes Aircraft, EDS and a 50% stake in Saab. His successors bought the Hummer, 20% of Korea-owned Suzuki and 20% of Fiat with the obligation to buy it or pay to get rid of it. (The latter course was chosen, at a cost of $2 billion...
...said Senator Bob Menendez, a New Jersey Democrat. In addition to monthly updates on the Big Three's progress, many members of Congress want an oversight board or a single trustee to be empowered to win concessions from employees, retirees, dealers and creditors that are essential for any long-term restructuring plan to work...
...country's national budget would be threatened by peace with India. And the country's civilian government dares not cross the red lines drawn by the military for fear of being toppled. Every civilian Pakistani government, without exception, has been overthrown before the end of its elective term of office...
...selling. Yet investors have certainly noticed the attacks; Mark Matthews, chief Asia strategist for Merrill Lynch in Hong Kong, says that India missed the rally over the past week enjoyed by the rest of the Asian markets. "India didn't get a share of that bounce." In the long term, he says, investors may simply start thinking of India as a place where terror attacks happen regularly and price its market accordingly. "Investors tend to get used...