Word: consortium
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...well beyond time for the Harvard community to reignite Higginson’s vision. An internal Harvard memo obtained in 2005 by the Boston Globe demonstrated that Harvard students are less happy with their experience than their peers at an elite group of 31 colleges known as the Consortium on Financing Higher Education, with frustration at a lack of an adequate social life and campus community playing a significant role in that dissatisfaction...
...talks with Opel owners General Motors back on track, Merkel is reportedly ready to abandon her previous plan to force GM to sell a controlling stake in its European business to a consortium of Canadian-Austrian car-parts maker Magna International and Russia's Sberbank. According to the German tabloid Bild, the German government has told GM's chief negotiator, John Smith, that Berlin will consider GM's preferred investor, the Belgian industrial group RHJI, as long as it teams up with a partner from the automotive industry. (See TIME's photo-essay "GM's Eight Great Hopes...
...German government has been negotiating with GM over Opel since March. The U.S. automaker wants Germany to provide state guarantees for Opel of up to $6.4 billion. In return, the Germans wanted GM to agree to sell a 55% stake in Opel to the Magna-Sberbank consortium. At first GM seemed to be playing ball. It spun off Opel into a trust to protect the Rüsselsheim-based manufacturer from GM's Chapter 11 proceedings in the U.S. (Read "Ron Bloom Monitors GM - and Eyes the Exit...
...almost amateurish way in which Merkel and Steinmeier have risked turning GM and Opel's misery into a transatlantic dispute. Neither GM nor the Obama Administration, which appointed 10 of GM's current board members, appears to like the idea of handing Opel - and GM patents - to a consortium at least partially controlled by Russian oligarchs. "Neither the Chancellor's phone call with the American President nor the Foreign Minister's with Mrs. Clinton impressed anyone," wrote the conservative Frankfurter Allgemeine Zeitung in a commentary published on Aug. 26. "It is questionable whether their decision to commit themselves...
Citigroup and Bank of America will set up the line of credit for the next year, Bloomberg said. In a report published last April, credit ratings agency Moody's Investors Service said the previous line of credit was funded by a consortium of banks, but it is unclear whether Citigroup and Bank of America participated. Spokesmen from Bank of America and Citigroup declined to comment...