Word: processing
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Dates: during 2000-2009
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...Administration is starting to face some resistance in Congress about its plan to put General Motors (GM) into Chapter 11, using Treasury money to sustain the company as it works its way back to profitability. The government put another $4 billion into the car company on Friday. In the process of a government-supported bankruptcy, $27 billion in bondholder capital will probably become worthless, GM workers will be laid off and hundreds of dealers will be closed...
...argument by members of Congress who are opposed to the process may get some traction. Blue collar workers across the country are becoming enraged at seeing their peers being thrown out of jobs with support from the Treasury. Local towns and cities will have to support workers at dealerships that close. Banking and investment firms not involved in the GM situation will have to ask themselves if their future rights could ever be undermined by a process driven by the financial might of the U.S. government. (Read "Is This Detroit's Last Winter...
...course, the entire GM restructuring process will raise national unemployment...
...informant came into contact with the plotters. But experts say New York authorities have developed an extensive network of community contacts to keep tabs on suspicious behavior. Burton surmises that authorities had a tip-off that the mosque used by chief plotter James Cromitie "was conducive to the radicalization process" and planted an informant among the congregation - which ultimately led the authorities to Cromitie...
...instrument that Russia uses to maintain influence in its so-called near abroad," says Valeriy Chaly, director of international programs at the Razumkov Center think tank in Kiev, referring to the former Soviet bloc countries. "History can be used to create a political nation. It's an important process that brings Ukraine closer to Europe. But Russia wants to stop, or at least control, this process." (See pictures of rich Russians...