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...plants across Europe are in the dark over what the plans mean for them in the future. Opel employs around 26,000 workers in Germany, almost half of GM Europe's total workforce of 55,000. With Germany in the driving seat during the negotiations, politicians and trade unions in other European countries are concerned the new investor Magna, along with its Russian partners, will protect German jobs at the expense of other jobs. "There are going to be more tough negotiations with GM Europe and Magna," says Klaus Franz, the head of Opel's works council. "A very stony...
...earful. Richard Parkus, an analyst at Deutsche Bank, said he thought two-thirds of all commercial real estate loans due in the next few years - hundreds of billions of dollars' worth - could go bust. Jeffrey DeBoer, president of trade group the Real Estate Roundtable, fretted that problems in the lending business could cost the nation thousands more construction and real estate jobs. Next up, Congressman Jerrold Nadler of New York expressed worry that the country was headed for a lost decade of economic stagnation...
...Fiat recently acquired Chrysler and now wants to merge GM's European business into the Fiat-Chrysler group to create one of the biggest carmakers in the world. His plans to close plants in Germany and Italy have been roundly condemned by powerful German governors and the IG Metall trade union. A Chinese carmaker, Beijing Automotive Industry Corp., is expected to detail its own plan for Opel next week. (See the 50 worst cars of all time...
...anything, Sotomayor may disappoint activists on the left who were hoping that Obama would choose a two-fisted progressive to trade punches with Justice Antonin Scalia, who anchors the conservative end of the court. There are episodes in her history as a judge that Republicans will scrutinize carefully, especially an affirmative-action decision that the Supreme Court is re-examining right now. But absent a time bomb hidden among her rulings and public statements, there's not much Sotomayor's opponents can do to turn her into a scary radical - or to counter that compelling personal story. (Read "Judge Sonia...
...Myung Bak in Seoul flatly told President Obama earlier this week not to go back to simply trying to bribe the North out of its nuclear program. Japan is more or less in the same place. China, which could inflict considerable economic pain on Pyongyang by cutting off trade and fuel shipments, now must decide whether or not, in truth, a nuclear North is against its "core interests." And it must do so with the world very much watching. Expect a senior envoy from Beijing to fly to Pyongyang at some point in the next few weeks...