Word: tradings
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...were to go into a free-fall bankruptcy and didn't pay its trade debts, then the entire domestic auto industry shuts down," says Rodriguez. The system - the domestic auto plants and their interconnected group of suppliers - is far bigger than GM. It includes 54 North American manufacturing plants and at least 4,000 so-called Tier 1 suppliers - firms that feed parts and subassemblies directly to those plants. That includes mom-and-pop outfits but also a dozen or so large companies such as Lear, Johnson Controls and GM's former captive Delphi. Beyond those are thousands...
...South Korea, golf-club memberships are the ultimate status symbol among the country's newly rich. Limited in number, memberships in the most prestigious clubs trade like prized stocks and often reach hundreds of thousands of dollars. A year ago, the golf membership belonging to Kim Joo Hyong, the chief executive of a small trading firm, was worth $350,000. But as the shockwaves from the U.S. financial meltdown slammed into South Korea in September, Kim nervously watched cash-starved golfers dump their memberships on an Internet site that tracks their value, sending prices plummeting. The country, he became convinced...
...Shield winds down, the social trade-offs have yielded the spotlight to the personal ones. From the start, Mackey rationalized his thieving in the name of his kids. The idea--the same big lie that justifies a million little compromises in ordinary lives--was that he could insulate his kin from the consequences of his actions, taking the moral bullet for them...
...pick of Illinois Congressman Rahm Emanuel to be its chief of staff. Emanuel is a win-at-any-cost partisan but not an ideologue; in his earlier White House stint as a top aide to Clinton, he was a key figure in shepherding through the North American Free Trade Agreement, a crime bill and welfare reform - none of them popular with the Democratic Party's liberal base. The appointment of someone who has been a savvy operator at both ends of Pennsylvania Avenue also shows that, for all Obama's talk of change, he does not intend to make...
...Chen's arrest comes at a sensitive political moment in Taiwan. A top Chinese envoy came to Taiwan last week to sign landmark trade pacts, a historic visit that was marred by violent protests from opposition Democratic Progressive Party (DPP) supporters who are wary of any moves to draw closer to China. Over a hundred people were injured in five days of chaos...