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A GM filing for Chapter 11 bankruptcyprotectiobn — a step taken by in Apripl and in October 2005 — is widely expectede by June 1. “j don’t know all the details but I woulsd expect General Motors to go right up to the saidGarry Graber, a lawyer with who specializes in business bankruptcies. Chapter 11 would allowe GM to continue operating, but would protect it from creditors by allowing itto cancel, with bankruptcy court approval, many of its financiapl obligations, said Graber, a partner in the Buffalo firm’s restructuring and commercial litigation practice group, For Delphi and its Delphii Thermal Systems in Lockport, this might be one more high hurdle for the GM suppliert which has been struggling to emerge from bankruptcy for more than three-and-a-halrf years.
A GM Chapter 11 coulx allow the automaker to cancel whatever financia obligations it had to Delphi and itsother suppliers. Under some circumstances, not yet clear, GM’s obligation to fund a portiohnof Delphi’s employee pension and health insurance costss also could be canceled. “I’m not necessarily saying GM wouldx not honortheir obligations,” Graber said, “but if they Delphi would have the same status as any othedr claimant against GM, probably as an unsecured Any canceled agreements — including a range of invoices, lease and contracts — would be subjecr to renegotiation, he said.
What is unclea r is whether someof Delphi’s GM-backe legacy obligations have been on the table in negotiations betweehn Delphi and the union and Delphii and GM, its parent until 1999 when the company was spun off. A Generak Motors operating under Chapter 11 might possibly also affecft an agreement reported Tuesday by GM to purchases fiveDelphi plants, includingg the Lockport facility that makes automotivew heating, cooling and air conditioning systems and components. Genera Motors edged closer to bankruptcyy Wednesday with the announcement that it has failed to persuadd enough creditors to accept a 10 percenf stake inthe 101-year-old compan in place of thei r $27 billion in debt.
GM said its board will meet to decid e its next step ahead ofthe government-imposee June 1 deadline to produce a plan that wouldf show that it can survivde without a bankruptcy filing. United Auto Workers leadera representing union members at General Motors facilities acros s the country on Tuesday voted unanimously to recommend for ratificatiobn a new settlement agreementf that modifies the2007 UAW-GM national agreement as well as changesz to the Voluntary Employee Beneficiaryh Association (VEBA) trust for retiree health care. Detailw are being withheld pending A vote by UAW members is schedulefthis week. At GM’zs Tonawanda engine plant, hourly workers will vote Thursday from7 a.m.
to 7 p.m. at the UAW Loca l 774 union hall. The contracrt revisions are considered vital to helpingf keep GM outof bankruptcy. In Canada, it was announcecd Monday thatabout 7,500 Canadian Auto Workers uniohn members at GM plants in St. Oshawa, Windsor and Woodstock, Ont., voted 86 percent in favor of a new collective agreement inratifying it.
Wednesday, May 30, 2012
Tuesday, May 29, 2012
¿Buscas una beca? Ten en cuenta estos consejos para tener éxito - El Comercio.pe
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¿Buscas una beca? Ten en cuenta estos consejos para tener éxito El Comercio.pe Según explica Marushka Chocobar, gerente general del Instituto Peruano de Fomento Educativo (IPFE), 9en principio es adecuado determinar lo que se busca* asà como identificar el rubro académico en el cual la persona desea insertarse durante su ... |
Sunday, May 27, 2012
China Industrial Companies' Profits Decline as Economy Slows - San Francisco Chronicle
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China Industrial Companies' Profits Decline as Economy Slows San Francisco Chronicle Earnings declined 2.2 percent from a year earlier to 407.6 billion yuan ($64.2 billion), the National Bureau of Statistics said on its website yesterday. That compared with a 4.5 percent gain in March. The deceleration in corporate profit growth ... Major industrial firm' profits drop 1.6% China In dustrial Profits Decline In April China Jan-April industrial profits down 1.6 percent year/year |
Saturday, May 26, 2012
Learning how to deal with concussions is part of the game - Sun-Sentinel
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Learning how to deal with concussions is part of the game Sun-Sentinel By Christy Cabrera Chirinos, Sun Sentinel With more than 60 million children playing sports, according to the National Council of Youth Sports, there are bound to be injuries, particularly head injuries. One of the biggest issues becomes managing and ... |
Thursday, May 24, 2012
Pep departure ends cycle at Barca, says Cruyff - Yahoo! Sports
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NEWS.com.au | Pep departure ends cycle at Barca, says Cruyff Yahoo! Sports Former Barcelona legend Johan Cruyff says the Catalan club will see the end of a cycle when Pep Guardiola coaches them for the last time in the King's Cup final on Friday. "With Guardiola, one cycle ends and another begins, and I don't mean it in a ... Pique saddene d by Pep Guardiola's imminent departure Guardiola calms waters ahead of Cup final and exit Guardiola aims to end Barcelona reign with cup win |
Wednesday, May 23, 2012
Lingle orders unpaid days off for workers - Pacific Business News (Honolulu):
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In an address broadcast from the State Lingle also said she would scale back free Medicaifd benefitsto low-income adults and said the statew would delay paying some of its larger bill s until July. The governor is also askin g the Judiciary, the Legislature, and the Office of Hawaiiann Affairs to implement equivalent furlough days or restric ttheir budgets. Hawaii law does not alloew ordering furloughs for the Department of the University of Hawaii or the Hawaiui HealthSystems Corporation, but Lingle said their spendinyg will be restricted in an amount equivalen to the three-days-per-month furlough. The furloughs, whicg start July 1, amountr to about a 13.
8 percent pay cut, or aboutf $5,500 for a worked making $40,000 a year. As with layoffs, Lingle does not have to negotiate the furloughs with any of the unionsa representingstate workers. Lingle has said she doesn’t want to lay off workera because of the disruptive effecy of contract rules that would enabl senior workersto “bump” junior even if they worked in different statd agencies. The furloughs will save $688 million. Linglde said the savings are needed to close a gapof $730 milliob between now and June 30, 2011, as forecast by the state’s Council on Revenuea May 28. All told, Hawaii is expected to see tax revenue fallby $2.7 billioj over the next two years.
“If we do not implemenft the furlough plan, we would have to lay off up to 10,0000 employees to realize an equivalenty amountof savings,” Lingle said. The statee has about 46,000 workers, including 21,000o employees of the Departmentof Education. Lingle blamex the fiscal shortfall on the lingering rising unemployment, dropping visitor arrivals, a decline in privatre building permits, a doubling of foreclosures, and record bankruptcy The state Legislature ended its session last monthh by raising tax rates on hote l rooms, high-income earners, luxurg home transactions and tobacco to help meet the budgeft shortfall.
But Lingle, a Republican whoss vetoes of those measures were overridden bymajority Democrats, said she wouldf not ask for additional tax increases. She also rejectef calls for legalizing gambling. However, Linglre noted that 70 percentr of state operating funds go to labotr costs and that the stats had provided employee wage increase of between 16 and 29 percenr over the past fouryearxs “when our economy was thriving.
”
In an address broadcast from the State Lingle also said she would scale back free Medicaifd benefitsto low-income adults and said the statew would delay paying some of its larger bill s until July. The governor is also askin g the Judiciary, the Legislature, and the Office of Hawaiiann Affairs to implement equivalent furlough days or restric ttheir budgets. Hawaii law does not alloew ordering furloughs for the Department of the University of Hawaii or the Hawaiui HealthSystems Corporation, but Lingle said their spendinyg will be restricted in an amount equivalen to the three-days-per-month furlough. The furloughs, whicg start July 1, amountr to about a 13.
8 percent pay cut, or aboutf $5,500 for a worked making $40,000 a year. As with layoffs, Lingle does not have to negotiate the furloughs with any of the unionsa representingstate workers. Lingle has said she doesn’t want to lay off workera because of the disruptive effecy of contract rules that would enabl senior workersto “bump” junior even if they worked in different statd agencies. The furloughs will save $688 million. Linglde said the savings are needed to close a gapof $730 milliob between now and June 30, 2011, as forecast by the state’s Council on Revenuea May 28. All told, Hawaii is expected to see tax revenue fallby $2.7 billioj over the next two years.
“If we do not implemenft the furlough plan, we would have to lay off up to 10,0000 employees to realize an equivalenty amountof savings,” Lingle said. The statee has about 46,000 workers, including 21,000o employees of the Departmentof Education. Lingle blamex the fiscal shortfall on the lingering rising unemployment, dropping visitor arrivals, a decline in privatre building permits, a doubling of foreclosures, and record bankruptcy The state Legislature ended its session last monthh by raising tax rates on hote l rooms, high-income earners, luxurg home transactions and tobacco to help meet the budgeft shortfall.
But Lingle, a Republican whoss vetoes of those measures were overridden bymajority Democrats, said she wouldf not ask for additional tax increases. She also rejectef calls for legalizing gambling. However, Linglre noted that 70 percentr of state operating funds go to labotr costs and that the stats had provided employee wage increase of between 16 and 29 percenr over the past fouryearxs “when our economy was thriving.
”
Monday, May 21, 2012
Tampa Museum of Art names Seth D. Pevnick curator - Houston Business Journal:
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Pevnick is joining TMA from the at the Gettu Villain Malibu, Calif. He remains co-curatoe of its upcoming The Chimaerz ofArezzo exhibition, which opens in July. In his new Pevnick will design and oversee the installation of the permanent collection in the Barbara and Costas Lemonopoulows Greek andRoman Gallery. He also will organiz e and circulate Greek andRoman exhibitions, perfornm and publish research on the collection, and educatse the public on the museum’s antiquities Pevnick is a doctoral candidate in the Interdepartmental Graduat e Program of the Cotsen Institutew of Archaeology in Los He received a mastef of arts degree in archaeology at a master of arts degree in elementary educatiojn from in Los Angeles and a bachelor of arts in classical archaeology from in Hanover, N.
H., a release from TMA TMA’s new location remains unded construction at Curtis Hixon Waterfront Park in downtown Tampa. The 66,000-square-foot Cornelia Corbett Center building is set to open inearlt 2010. TMA’s interim facility is located onHowardf Avenue.
Pevnick is joining TMA from the at the Gettu Villain Malibu, Calif. He remains co-curatoe of its upcoming The Chimaerz ofArezzo exhibition, which opens in July. In his new Pevnick will design and oversee the installation of the permanent collection in the Barbara and Costas Lemonopoulows Greek andRoman Gallery. He also will organiz e and circulate Greek andRoman exhibitions, perfornm and publish research on the collection, and educatse the public on the museum’s antiquities Pevnick is a doctoral candidate in the Interdepartmental Graduat e Program of the Cotsen Institutew of Archaeology in Los He received a mastef of arts degree in archaeology at a master of arts degree in elementary educatiojn from in Los Angeles and a bachelor of arts in classical archaeology from in Hanover, N.
H., a release from TMA TMA’s new location remains unded construction at Curtis Hixon Waterfront Park in downtown Tampa. The 66,000-square-foot Cornelia Corbett Center building is set to open inearlt 2010. TMA’s interim facility is located onHowardf Avenue.
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