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...conference, said Magna had come up with the best offer. "Magna has a great manufacturing culture and it enjoys the support of German labour unions, and the funding is there. It makes sense," said Smith. But he also warned of job-cuts. Magna's bid outlined a plan to wind down production at GM's factory in Antwerp, Belgium, and shift some production from a Spanish plant to Germany. Magna executives have said that 10,000 jobs might be axed across Europe. Opel's union chief, Klaus Franz, welcomed news of the deal. "I'm pleased and I'm relieved...
...Geithner responded that he didn't think that was a failing of TARP. Instead, he said the fact that some banks continue to grow underscored the need for financial regulation reform, especially the need to give regulators the power to wind down large financial institutions...
Watch TIME's video "The Truth About Wind Power...
...program for allowing people to become their own bosses, they also say the limitations it imposes on start-up businesses means it won't create jobs for enough of France's 2.4 million registered unemployed. And even if most of the projected 500,000 new companies launched this year wind up prospering, their tiny size isn't going to make a big dent in the country's economic decline in 2009, which economists estimate will be at least 3%. (See pictures of the Top 10 scared traders...
Jones' genius was in welding the two issues together: hence "green jobs," new employment opportunities in solar panel installation or wind turbine manufacturing that could reduce carbon emissions even as they provided steady pay for struggling blue-collar workers. It was perfect - something for everyone - and it's no surprise that President Obama returned to the theme again and again on the campaign trail and in the White House. But it was Jones who said it first, and best. (See the top 10 green ideas...