Word: wednesday
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...Porsche announced the U-turn late on Wednesday after a series of intense meetings between Wolfgang Porsche and Ferdinand Piech, the patriarchs of the families that control the two iconic German companies. Now, VW and Porsche will enter weeks of intense talks to thrash out the final structure of a merger that will add Porsche as a tenth brand to VW's stable, which already includes Audi, Bentley and Czech manufacturer Skoda, as well as the VW brand. (See the 50 worst cars of all time...
...have just run out of time. Its gambit to acquire VW cost Porsche dearly as it piled up a $12 billion mountain of debt to finance stock purchases. With the sports carmaker beginning to struggle under the weight of that debt, Porsche and Piech met in Salzburg, Austria on Wednesday to end the feud. Following that meeting, Porsche issued a statement declaring that the two companies aimed to "develop a corresponding basis for decision-making on the future structure of the common group...
...Pakistan's President Asif Ali Zardari and Afghanistan's President Hamid Karzai were reliable stewards of U.S. security interests in the world's most troubling trouble-spot. An epic suspension of disbelief is required to cast either of the men Obama welcomed at the White House on Wednesday as capable of leading a successful fight against the Taliban. Zardari's approval ratings are lower than those of the reviled former dictator President Pervez Musharraf; his army is reluctant to go to war against a section of the country's citizenry; and Pakistani public opinion remains more hostile...
...officials have acknowledged that anti-Taliban bombardments were carried out while declining to comment on the extent of civilian casualties. In expressing regret over the incident, Secretary of State Hillary Clinton said Wednesday that the joint investigation would take time to come up with answers. Meanwhile, Gen. David McKiernan, commander of US forces and NATO forces in Afghanistan, moved to cast doubt on the emerging narrative. "We have some other information that leads us to distinctly different conclusions about the cause of the civilian casualties," he said, without providing further details...
...left Canada seething at what it sees as sanctimonious grandstanding. At Wednesday's summit, Canadian Trade Minister Stockwell Day said the decision "was based on people's feelings rather than hard facts," noting that Canada went to great lengths to ensure a humane, well-regulated and sustainable cull, and that it no longer allows the clubbing of baby seals while they still have their white coats. (See pictures of Canada...