Word: putting
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...Over the next month, the task force rammed through an odd-looking arrangement: The government would put up the money. The UAW's Voluntary Employee Beneficiary Association (VEBA) - a trust set up at Chrysler and other U.S. carmakers to shift retiree health-care obligations off company books - would own a majority of the shares. Fiat would run the place. And some sort of entity called Chrysler would survive. Despite the protests of some bondholders, the deal was sent to receive the blessing of a bankruptcy judge...
...company put Saab, Opel, Saturn and Hummer up for sale, then killed Pontiac. (Marchionne promptly entered fire-sale bids for Opel and Saab.) As the expected bankruptcy filing approached, plans were under way for a complicated stock deal that would render existing shares essentially worthless. Secured bondholders were being offered full payment in new company stock, while others were being told to expect far less...
...around Europe, anger is rising that German politicians are playing a deadly game of poker with GM for which others might end up paying the price. "We cannot get into a situation where everyone is trying to outdo each other, in which we see how much money Germany can put on the table and how much we can," said Flemish Premier Kris Peeters. After all, he, too, faces elections this year...
...coulds and all the shoulds couldn't put AOL Time Warner together again. I blame the company's curious entrepreneurial culture - curious because, while entrepreneurship is highly prized here, the jefes who run the big operating units still prefer the safety and comfort of a large corporation to the risk of running one's own business. And that creates powerful fiefdoms where divisions don't cooperate with each other and synergy becomes a bad word...
...Heavy rains suppressed output in Colombia, the world's third biggest coffee producer, even as a government plan to replace old coffee trees with new, higher-yielding ones had put some areas out of production until the young trees mature. Combined, the twin pressures have squeezed Colombian coffee output by 16% in the current crop year, according to the ICO, which represents exporting and importing countries worldwide. Wet weather also stymied production to the north, in Central America, driving up prices there too. (See pictures of coffee...