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General Motors' (GM) creditors have rejected a program that would have swapped most of the auto company's debt for equity, effectively driving the firm into Chapter 11. The century that began with the mass production of the Model T in 1909 and ended with the worst collapse of domestic vehicle demand in history is over. It was a 100-year period when Detroit was considered the seat of global manufacturing prowess, a period when the Big Three were among the largest, and often the most profitable, companies in the world...
...availability of rubber-tire production, the U.S. vehicle market grew to a 16 million-unit-per-year business. This year that number will be under 10 million, which will cause nearly every auto company doing business in the U.S. to show red ink. (See the 50 worst cars of all time...
According to United Nations figures, of the 2,118 Afghan civilians killed in 2008 - an almost 40% increase versus the year before - coalition and Afghan forces accounted for 828, largely from errant air strikes and raids. Until the Bola Boluk incident, one of the worst tolls was exacted on celebrants of another wedding occasion in July in eastern Nangarhar province. Mistaken intelligence reports of an insurgent gathering prompted a U.S. air strike that left 47 people dead...
...Australia Day this year, for the fourth time in a row since Cronulla, violent nationalism came to the fore. The flag - my flag - was the emblem of choice for drunken nationalist outbursts across the nation; in Wollongong, south of Sydney, Australia Day violence was the worst police had ever seen, with mobs of drunken, flag-clad teenagers brawling in the streets. In Manly, in north Sydney, an 80-strong flag-waving mob harassed and assaulted nonwhite passers-by and shop owners, jumped on cars and chanted "Aussie pride...
Bush, George W. •shredding of the preposterous endlessly repeated meme that the nation was "kept safe" by, a quintessentially ludicrous claim given that, among other ignominious fiascos, the worst attack on American soil, the destruction of a major American city, and the collapse of the American economy all occurred under the "watch...