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...bondholders complain that neither GM nor the Treasury has held any kind of serious discussion with them. In fact, CEO Henderson has described the offer to bondholders - 225 shares of GM stock for every $1,000 of bond face value - as a take-it-or-leave-it proposition...
Buried on page 795 of President Obama's budget, released last Thursday, is a paragraph banning the federal funding of needle-exchange programs for drug addicts - an apparent about-face on his campaign promise to overturn that longstanding ban. To the further consternation of AIDS and addiction activists, a statement of support for needle exchange was recently removed from the White House website. Is Obama reversing course...
...position of assistant to the Allston Burr Resident Dean may face significant “restructuring” as House Masters grapple with the administration’s mandate to trim next year’s House budgets by 25 percent. According to House administrators, who spoke to The Crimson on condition of anonymity for fear of losing their jobs, the College administration is currently considering two proposals, both of which would scale back the position. One option is to consolidate the responsibilities of the 12 resident dean assistants, requiring one assistant to manage two or three Houses. The other...
...Caution in India may be a watchword considering the global recession and Wal-Mart's blemished track record overseas. In 2006, the company pulled out of Germany and South Korea in the face of stiff competition and poor sales. Still, Wal-Mart has been weathering the economic crisis better than most. The company on May 14 announced it earned $3.02 billion in the three months ended April 30, about equal to the profit it made in the same period in 2008. Revenue fell 0.6% to $93.47 billion from $94.04 billion a year earlier. Highlighting the growing importance of markets such...
...arrived in the back of the papal plane just after it took off for the return trip to Italy. Vatican spokesman Father Federico Lombardi introduced him with a smile, calling this "the longest, most complicated and maybe most tiring" of the Pontiff's 12 foreign voyages. Benedict, his face toasty bronze from a week of public appearances under consistently sunny skies, repeated his call to seek signs of hope in an otherwise bleak Middle East landscape. Having just come from deep prayer at the Church of the Holy Sepulchre, the traditional site of Jesus' death and resurrection, he also passionately...