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Thursday, June 4, 2009

In a New York press conference at 16:15 UTC, June 1st, Fritz Henderson, the Chief Executive Officer of General Motors, which filed for bankruptcy and Chapter 11 protection from its creditors earlier today, outlined a plan for what he called a “New GM”.

Speaking to the press under safe harbor provisions of U.S. law, Henderson described the events of today as a “defining moment” in the history of General Motors. Speaking to the public he said that “The GM that let you down is history,” and described a “New GM” that he expected to result from the bankruptcy process.

Henderson stated that he envisioned the bankruptcy process would take between 60 and 90 days. He stressed several times his view that the process would be one that is executed quickly, saying that not just a sense of urgency but “pure unadulterated speed” was his expectation of the process. He emphasized that “GM remains open for business” during the bankruptcy period, continuing to sell and to support its products, and that day one motions had been filed in the bankruptcy court in order to allow this.

Regarding the bankruptcy process he said, “We will do it right. And we will do it once.”

He stated that the plan for General Motors had the support of the United Auto Workers union, the Canadian Auto Workers union, the GM VEBA, and a majority of the unsecured bondholders of GM. He also mentioned that GM had already received €1.5 million in bridge financing from the German government.

In response to questions about the possibility of the United States federal government, a majority shareholder in the restructured company, dictating future product development and strategy, such as the sale of more fuel-efficient and green vehicles; he first observed that the federal government had already stated to him that it had “no real interest in running our business” and that he expected that still to be his job. Of the specific hypothetical scenario where the management of GM wants to make one type of car, because it thinks that it is the right thing for the business, and the U.S. government wants to make another type of car, he stated that “I don’t think it’s going to happen.” Expanding on that point he stated that he expected the “New GM” to focus upon “highly fuel-efficient and green technology”, and that operating both in accordance with U.S. environmental laws and in response to customer demand would naturally result in the New GM producing the types of vehicles that the U.S. government would encourage.

The “New GM” he also expected to focus on “four core brands”, and will size its dealership to match that. He stated that GM would offer a “deferred termination” package to dealers, to allow them to cease dealing in GM vehicles in a managed and gradual way.

He stated that the bankruptcy filings did not cover General Motors’ businesses in Latin America, Europe and the Middle East, and Asia and the Pacific. Of GM’s profitable ventures in China, specifically, he stated that they were “a critical part of the New GM”. In response to questions of whether the New GM would import cars from China to the U.S., he stated the formative company’s core principle that “We build where we sell” applied in both directions, with GM building in China to sell in China and building in the U.S. to sell in the U.S., stating that this shortened supply chains.

He declined to predict when the New GM would return to profitability, stating that the goal was rather to lower the break-even EBIT point for the company. He also declined to speculate upon when the U.S. government would sell its stake in the company, saying that that was a question “better addressed to the U.S. Treasury”, and merely saying that he expected it to be “years, not months” when the U.S. Treasury felt it would give “the right return for taxpayers.”

Monday, December 24, 2012

Two cars have been involved in a road traffic accident in the Scottish Lothian and Borders region, causing three fatalities and sending three to hospital. The incident occurred on the A68 road approximately 1.5 miles south of the Midlothian village of Pathhead when a Škoda Octavia and a Nissan Note travelling in opposite directions collided at approximately 0730 UTC today.

The Nissan, which was carrying five occupants, overturned and came to rest on its roof. Three male Buddhist monks who sat in the back of the car died at the site of the crash. The female driver of the vehicle managed to get out of the vehicle herself but another male passenger in the front of the car had to be cut free by fire service members. The two front-seat passengers as well as the male driver of the Škoda were hospitalised at the Royal Infirmary of Edinburgh, although none of their injuries are considered likely to be fatal.

“This is a tragic incident,” Inspector Simon Bradshaw of Lothian and Borders Police said, “and we are currently in the process of carrying out inquiries in order to establish the full circumstances of the collision.” The A68 road close to the location of the accident was temporarily closed to allow police to investigate the incident, with traffic redirected to the B6370 road via the town of Gorebridge. The road has since reopened.

Sunday, June 21, 2009

Earlier this month, former Republican U.S. Senator Bob Smith announced his candidacy for Florida’s open Senate seat in the 2010 midterm election. Smith, who was one of New Hampshire’s senators for two terms — which amounts to twelve years — said he is running for office in his recently adopted home state due to his disapproval of the direction in which America is headed. He is very optimistic about the conservative change he can potentially bring to Congress which is currently controlled by liberal-minded members of the Democratic Party.

Smith has, however, some major hurdles to overcome in the Republican primary. He is facing two well known politicians who have been elected to statewide office numerous times. The chief of these is current Governor Charlie Crist, a moderate-to-liberal who is currently leading in the polls. The second is former Speaker of the Florida House Marco Rubio, a center-right 38-year-old who has been criticizing Crist for months on the support he has shown for President Barack Obama’s controversial economic stimulus package.

Despite trailing both in recent polls, Smith believes that the polls themselves are irrelevant as the primary is over one year away. He is devoting the remainder of this summer to building up grassroots and financial support for his campaign.

Wikinews reporter Joseph Ford had the opportunity to speak with him about his run this past weekend.

“We must deliver a message that appeals to all members of the Republican Party, and that will appeal to Floridians in the general election,” Smith proclaimed. “I am in this race because I want to make my experience as a U.S. Senator available to my fellow Floridians.”

Monday, February 1, 2010

A new set of talks are scheduled to attempt to reunite Cyprus, prompting UN Secretary General Ban Ki-Moon to say that a solution is “possible and within reach” when he arrived in the country yesterday for talks between Greek and Turkish-Cypriot leaders that will take place later today.

Progress have been slow for the peace talks, which started in September 2008, but the UN chief said that a deal would require “courage, flexibility and vision as well as a spirit of compromise”. “I am under no illusion that the Cyprus problem is easy to solve”, he told reporters after he arrived in Larnaca yesterday in preparation for the talks with Greek Cypriot leader Demetris Christofias and Turkish Cypriot Mehmet Ali Talat today.

Ban said that “solving the Cyprus problem will give inspiration to all those around the world trying to solve other seemingly intractable problems and I’m looking forward to having good meetings with the leaders”, with the Greek and Turkish Cypriot leaders saying that they are committed to finding a solution. Monday’s talks will involve Ban holding talks with the two leaders individually, before chairing a meeting between the pair. Any deal that emerges will be a subject of two simultaneous referendums, one for each side of the border. Both sides agree that “nothing is agreed until everything is agreed”.

Jonny Dymond, the BBC Europe correspondent, has expressed fears that time is running out on a solution. There are also worries that the fast approaching northern Cyprus leadership elections will mean that Talat is replaced by nationalist Dervis Eroglu, who is leading in opinion polls. If this were to happen, talks might be shelved.

Cyprus has been divided since 1974, after Turkish forces invaded after a coup led by Greece allegedly aimed to absorb it. Northern Cyprus is only recognised as a state by Turkey.

Monday, April 3, 2006

Sometime during the night of Friday, January 28, 15 year-old Jenissa Ryan was assaulted and raped in Alice Springs. She was discovered near the entrance of Centralian Senior Secondary College around 10:30 a.m., and a college employee called an ambulance. The attack was not reported in the mainstream national media until this week, when it became known that the victim was the great-granddaughter of famous indigenous artist Albert Namatjira.

In an article published in Saturdays Sydney Morning Herald, Russell Skelton said that the fact that she was an Aborigine, and the location of her bashing, contributed to her death. “If Jenissa had been white, she might be alive today, though the scars of her brutal bashing and rape could never be erased. If she had been bashed and left for dead almost anywhere else, assistance would have been immediate and the outrage strident.” He also said that if her connection to Namatjira had been known, Jenissa’s death would have been a “national scandal.”

Police believe that she was attacked by a number of youths her own age while walking home. She continued to walk home, but collapsed unconscious near the entrance to the college. Here, according to police, she was found by three teenage boys, who dragged her out of view and raped her.

Jenissa was still alive when found. Skelton considered it likely that people had seen her during the morning but done nothing. “That means a number of residents of middle-class Grevillea Drive probably noticed. The white T-shirt and striped tracksuit pants were hard to miss,” he said.

She was taken to Alice Springs Hospital, and then flown to Adelaide’s Women and Children’s Hospital.

On February 13 Northern Territory Police charged a 16 year-old male and a 15 year-old female with assaulting Jenissa Ryan. Three other males, aged 14, 15, and 16, have been charged with having unlawful sexual intercourse with Jenissa Ryan. Police expressed gratitude for the assistance they had received from members of the public.

Father Asaeli Raass said that both indigenous and non-indigenous people were in denial about the incident. “Yes, it’s a painful thing, but people are sweeping it under the carpet when they should be confronting the big issues Jenissa’s death raises,” he said. He also said that the initial wave of publicity “never travelled outside Alice Springs.”

Jenissa’s mother, Carmel Ryan, said that her daughter wanted to be a painter, like her great-grandfather. “She wanted to be like him, to make a creative contribution we would all be proud of. Tragically that can never be, but I feel nothing but sorrow for the parents of the children involved in this terrible event,” she said.