Word: processing
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Dates: during 2000-2009
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...Neither can General Motors'. The company is in the process of axing 1,100 of its 6,000 dealers. When the march of time, the sins of management and the scythe of a bad economy conspire to bankrupt once great companies, who pays? The sort of person, in the words of Tennessee Senator Bob Corker, "who ran a profitable business, civic leader, always responsible," who "very unfortunately" is "going to take a lot of pain" for the mistakes of others. A guy like Steve Weinberg. "It breaks your heart," says the Senator. (See the 50 worst cars of all time...
...will look back on with great regret," predicts Corker, a reluctant and critical supporter of the bailout. "The government has no business making those kinds of decisions." Critics of the government's involvement maintain that bondholders have been punished, union workers coddled and laws flouted in the process. And they worry that should GM emerge from Chapter 11 with the U.S. Treasury as majority shareholder - Government Motors - we will have crossed a frontier separating capitalism from socialism, even though the company will be run by existing management...
...Europe and the U.S., that may augur a shot of good news. Consider the example of cocoa. Futures prices for the crop have tumbled in recent weeks amid signs of dwindling demand for chocolate products in mature markets. The European Cocoa Association said last month that grinding - the process that turns the crop into cocoa butter or powder and a handy proxy for demand - by its members fell 11% in the first quarter of this year. Grinding across the U.S., Canada and Mexico fell by slightly more in the same period. That's prompted some manufacturers to "provide some promotion...
...Meanwhile, Republicans are pushing to slow down the process, to give themselves maximum time to find that incendiary something in her rulings and public statements. Senate Majority Leader Harry Reid has said he'd like to see Sotomayor confirmed before the Senate leaves town on Aug. 7 for its summer recess...
...nomination of Sotomayor comes at a bad time for the GOP. Republicans have only just begun the long process of wooing Latinos burned by the 2005-06 immigration battles. Obama won 67% of Latino votes, vs. John McCain's 31% - enough to help Obama win Florida, New Mexico and Colorado. Hispanics had actually been somewhat disappointed in Obama's Latino-lite Cabinet and his unwillingness to take on immigration reform as a top issue in his first 100 days. But that will probably be forgotten now. The Hispanic community was "thrilled" by Obama's pick of Sotomayor, said David...