News Stories

[Solace]

Just a heads up for everyone - discussing the article is fine and all but discussions about the rights and wrongs of abortion are not fine. It's just too polarizing of a subject and people can't keep their opinions (read: emotions) in check.

So before that happens, here's the official warning.

[TinyRedLeaf]

Dreaming a dream...

But, alas, the dream was not meant to be

Susan Boyle loses Britain's Got Talent contest

London (May 30): She was the surefire favourite but, on Saturday night, Susan Boyle lost the Britain's Got Talent crown to a multi-ethnic dance troupe in one of the most surprising upsets for a television show in years.

After a week of negative stories about emotional outbursts by the 48-year-old spinster from Blackburn, Scotland, Boyle received just over 20 per cent of the four million telephone votes cast. The 10-piece dance act Diversity, from Essex and east London, won with nearly 25 per cent of the votes.

But a stoic Boyle was magnanimous in defeat, stating: "The best people won. They are very entertaining. Lads, I wish you all the best."

In the past week, Boyle has been the subject of a succession of critical stories, which may have influenced opinion. She reportedly "blew up" after Piers Morgan, one of the three judges, said one of her close rivals, 12-year-old Shaheen Jafargholi, had been the best singer in the semi-finals. She later had a slanging match with two tabloid reporters before police intervened in the row in her hotel carpark.

Musicians who played with Boyle for 20 years in Scotland have given insights into her temperament, which suggest that while she may have the fractured personality and inner turmoils of another Judy Garland or Edith Piaf, she also has the steel to survive in the entertainment business.

The choice to repeat her opening hit, I Dreamed a Dream, which catapulted her to global recognition, may also have played a part in Boyle’s downfall. Other followers may have been put off paying for phone votes by the belief she was a certain winner.

"You have had a weird several weeks and you have had every right to walk away from this," she was told by judge Simon Cowell. "You have had the guts to come back here tonight and face your critics. Whatever happens you can walk away from this with your head held high."

- TIMES ONLINE, GUARDIAN

The dream is over (for now), but the memory remains...

[KimmyChan]

Along the same lines as the story above -

Talent star Boyle taken to clinic -

http://news.bbc.co.uk/1/hi/entertainment/8076413.stm

[anti-random]

Missing plane.

http://www.news.com.au/heraldsun/sto...86-661,00.html

[Saleh]

Alternate sources for previous article (with a bit more detail) -

http://blogs.usatoday.com/sky/2009/0...off-radar.html
http://www.timesonline.co.uk/tol/new...cle6404837.ece
http://news.bbc.co.uk/2/hi/americas/8076848.stm



GM ready to file for bankruptcy

Originally Posted by BBC News

Car giant General Motors (GM) is due to file for bankruptcy protection later on Monday, marking the biggest failure of an industrial company in US history.

The stricken firm had until 1 June to present a viable revival plan in return for emergency government funding.

The US Treasury Department said "at least 54%" of bondholders have agreed to a deal giving them at least a 10% stake in what be a much smaller GM.

President Barack Obama is due to give full details at a news conference.

The BBC's Jonathan Beale, in Detroit, says Mr Obama is expected to announce $30bn (£18.5bn) in new funding for GM.

GM's sales have been hit hard by the financial crisis and the firm has already received $20bn in state aid.

In return for more cash the federal government is reported to be receiving a stake of 60% in a new, leaner company due to be re-launched within 90 days.

Senior executives at General Motors have been making final preparations for completely restructuring what was once the world's largest car company, under judicial supervision.

A Chapter 11 bankruptcy filing by GM would rank as the third largest bankruptcy in US history following Lehman Brothers' collapse and the failure of telecoms giant WorldCom.

European deal

The restructuring is likely to drastically change General Motors, with some 20,000 workers thought likely to lose their jobs.

Our correspondent says long-established subsidiaries Pontiac, Saturn and Hummer, as well as Saab, the remaining GM brand in Europe, are under threat as production plants are expected to close across the country.

GM's European arm is likely to be spared bankruptcy following a proposed deal by Canadian car parts maker Magna International to buy GM Europe's Vauxhall and Opel brands.

However, unions fear that jobs may be lost at Vauxhall plants in Luton and Ellesmere Port, which employ 5,500 people.

UK Business Secretary Lord Mandelson said he had received further assurance from GM Europe that Vauxhall production would remain in the UK.

Jobs may also go in Belgium, Poland and Spain.

GM, once the largest company in the world, has been losing market share since the early 1980s.

It has been driven to bankruptcy because of high production costs and by the collapse in credit markets and consumer spending. It made losses of $30bn last year.

GM was also slow to move away from producing gas-guzzling SUVs when consumers were looking for more fuel-efficient vehicles.

Toyota sold more vehicles than GM in 2008, putting an end to the American company's 77-year reign as the world's biggest carmaker.

...

Alternate source - http://www.bloomberg.com/apps/news?p...dTQ&refer=home

[Kamui4356]

Originally Posted by Saleh

GM ready to file for bankruptcy



Alternate source - http://www.bloomberg.com/apps/news?p...dTQ&refer=home

The government should have just stepped in and nationalized the company back when they got the bailout. They even said at the time that it wouldn't be enough. Hell the stock is like a dollar. They could have taken that bail out money and bought a controlling interest in the company and still would have had money left. Even if GM survives this, a lot of people are going to be out of work around the world. Though if the government really wanted to save GM, a socialized medicine system would have saved them a lot of money in benefits packages without the government having to actually give a dime to the company. Of course either way is "socialism" and we can't have that.

[Karnot]

Good riddance.

[Vexx]

In regard to GM or the finance sector, there's something very dysfunctional when a business entity is permitted to become "to big to allow to fail". Unfortunately, it doesn't look like its going to get bad enough to get a retuning of the artifact of "corporation". However, this is going to be one of the stranger versions of bankruptcy business-watchers will ever see with all kinds of special one-time rules and whatnot.

[solomon]

Originally Posted by Kamui4356

The government should have just stepped in and nationalized the company back when they got the bailout. They even said at the time that it wouldn't be enough. Hell the stock is like a dollar. They could have taken that bail out money and bought a controlling interest in the company and still would have had money left. Even if GM survives this, a lot of people are going to be out of work around the world. Though if the government really wanted to save GM, a socialized medicine system would have saved them a lot of money in benefits packages without the government having to actually give a dime to the company. Of course either way is "socialism" and we can't have that.

Sorry, dude. That would be WAAAYYYY too controversial. As a yank, I know that people generally HATE the government aside from getting providing welfare, paying for sports stadiums or funding the military. Other then that, people say "IT'S TOO DAMN BIG"!!!

Hopefully, Obama will manage the bankruptcy OKAY. It's not going to be stellar, but for his sake I hope damage is minimal cause this could be historical egg on his face if any one messes up.

[yezhanquan]

It may be the largest industrial bankruptcy in US history but overall, it's only 4th. What IS the largest US banktuptcy, ever? Lehman?

[chikorita157]

I'm not surprised on GM going bankrupt at all because of what happened so far with the piling debt caused by mismanagement and union and also the economy didn't help too. I think the government should be able to handle the bankruptcy fine since GM can get out those expensive union contracts and some debt, but there is going to be some job loss from this which might not be a good thing for people who are currently working in GM.

[Kamui4356]

Originally Posted by yezhanquan

It may be the largest industrial bankruptcy in US history but overall, it's only 4th. What IS the largest US banktuptcy, ever? Lehman?

I've heard 3rd largest, behind Lehman at 1 and worldcom at 2.

Originally Posted by soloman

Sorry, dude. That would be WAAAYYYY too controversial. As a yank, I know that people generally HATE the government aside from getting providing welfare, paying for sports stadiums or funding the military. Other then that, people say "IT'S TOO DAMN BIG"!!!

Only when the other party in charge. No one cares about big government as long as it's being done by the guys they support. When it's the other party though? Then we get the big government claims. Though sports stadiums aren't generally considered a prudent use of tax payer dollars.

[iLney]

Hah, GM goes boom and the Dow is up by 220 points What a coincidence.

[yezhanquan]

GM's been delisted from the Dow. Good riddance to ankle weights.

[Vexx]

GM and Citicorp have both been removed from the Dow Jones Average of stocks. They weren't worth enough to list.

Stocks in general went up today mostly due to the readings of goat entrails and splashing of tea leaves that the "o so brilliant" fund analysts conduct before using the same buy-sell algorithms that everyone else uses as well.

[solomon]

I see someone has little faith in our glourious captalist system

[solomon]

Originally Posted by Kamui4356

Though sports stadiums aren't generally considered a prudent use of tax payer dollars.

Some would consider that debatable. (Not me, but as much as I endorse and love musuems and parks and public broadcasting, they don't rake in money like stadiums unfortunetly, which is why it's one of the few things both parties will shell out money for.)

[Vexx]

Originally Posted by solomon

I see someone has little faith in our glourious captalist system

heh, "faith" is irrelevant when one can observe and collect data

[danin8r44]

Originally Posted by bbc

North Korea's leader Kim Jong-il has designated his youngest son to be the country's next leader, according to reports in South Korean media.

http://news.bbc.co.uk/2/hi/asia-pacific/8078324.stm

[Woopzilla]

Originally Posted by danin8r44

http://news.bbc.co.uk/2/hi/asia-pacific/8078324.stm

I guess once he's gone though it's the Army who decides which of his sons gets to be in power.

Hopefully the most level headed one gets to succeed him. Don't want Nukes falling into the hands of someone just as, or more extreme than Kim Jong-Il.