Word: wednesday
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Could the credit crunch get you out of paying that pesky divorce settlement? That's the teaser before London's Court of Appeal after Brian Myerson, a fund manager in the city, asked a panel of judges Wednesday to nix the $15.2 million agreement reached last March with his ex-wife Ingrid. The reason: turmoil in the markets has effectively wiped out his share of the couple's spoils. A ruling in Myerson's favor could see a tide of wealthy divorcees heading back to court in search of sweeter deals...
...right now. That's left Myerson's stake in the firm worth a measly $2.7 million. Should Myerson be made to pay the $3.5 million in cash he still owes his former wife, she'll have landed 105% of the couple's assets, Myerson's lawyers argued in court Wednesday, and he'll be left hundreds of thousands of dollars in the red. "The freefall in the value of the shares has completely changed the basis on which the case was settled," argued Martin Pointer, Brian Myerson's lawyer...
Chrysler president Thomas LaSorda, himself Canadian born, told a top Parliamentary committee Wednesday night that unless the Canada capitulates, he will move operations to the U.S. and Mexico, a position that has not only infuriated the CAW, but also triggered a public backlash against the teetering automaker. "I'm truly shocked," says analyst Dennis DesRosiers of Richmond Hill, Ont.-based DesRosiers Automotive Consultants. "LaSorda said things I thought I would never hear from an auto executive." The privately owned automaker has not shown the same flash of bravado and temper in dealing with Congress and the United Autoworkers...
Should you go to bed Wednesday night praying for residence in Lino's Eliot Inferno? Get a complete analysis after the jump...
...Senate moves come as three House committees - Ways & Means, Energy & Commerce and Education & Labor - sent a letter to President Obama on Wednesday announcing their intention to work together to draft legislation. The cooperation among committees in both chambers is a break from the 1994 attempt at health-care reform, when committee infighting helped sink that effort. Both chambers have said they intend to see legislation reach the floor before the August recess, though many admit the tougher part will come when the differences between the two versions must be reconciled. "The House bill will be the high-water mark...