Word: union
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...Even without the ominous prospect of military meddling, the stakes are high indeed. The threat of further political turmoil is already spooking investors, with Turkish shares tumbling 8% on Monday alone. A political impasse threatens to slow or reverse democratic reforms that were under way to meet European Union norms, and could further complicate Turkey's strained relations with Europe. Some E.U. membership negotiations are already on hold, and they are not likely to resume if the government cannot agree on who's in charge. Senior E.U. official Olli Rehn has said Turkey's handling of the crisis will...
...credit several undeniable accomplishments. After years of political uncertainty that saw Turkey's economy limp from crisis to crisis, the party's economic reforms and fiscal discipline have fueled growth averaging 7% a year. It strengthened rights for the Kurdish minority and convinced the European Union to launch membership talks last year. Joost Lagendijk, a Dutch member of the European Parliament who chairs an E.U.-Turkey delegation, says the party "has done more for the modernization of Turkey than all the secular parties in previous years. They were willing to open up the system, to challenge the élite...
...Johnny Carson's favorite running jokes--the staid assistant bandleader dubbed "Mr. Excitement," the "comatose commander" and the "man from bland." Yet Tommy Newsom's beige suits and low-key persona belied his reputation as a vibrant saxophonist who toured South America and the Soviet Union with Benny Goodman, won Emmys as an arranger for TV specials and composed for singers from Kenny Rogers to Beverly Sills...
...than their German counterparts. And it's not just engineers who are caught in the global squeeze. In 2004 Siemens extracted an agreement from its workforce at two mobile-phone-handset plants in Bocholt and Kamp-Lintfort to work longer hours and accept a cut in holiday pay. Frustrated union leaders say they were blackmailed into eating what amounted to a 20% wage cut. "We had to accept these terms because there was the constant threat that these jobs would go to Hungary if we didn't," says Wolfgang Mueller, who was IG Metall union's representative on the Siemens...
Kleinfeld expected to have his contract extended. And with good reason. He presented first-half results that show that all the company's divisions are profitable again for the first time in years. Dieter Scheitor, the IG Metall union representative on Siemens' supervisory board who gave Kleinfeld a shove, says what matters most is whether all the bad news is out now. "Experience teaches us that the scandal probably has not reached its final act yet," he says...