Scientology protest group celebrates founder’s birthday worldwide

 Correction — March 19, 2008 The next protest is scheduled for April 12, 2008. The article below states April 18 which is incorrect. 

Saturday, March 15, 2008

The Internet group Anonymous today held further protests critical of the Church of Scientology.

The global protests started in Australia where several hundred protesters gathered at different locations for peaceful protests.

In a global speech, the Internet protest movement said Scientology “betrayed the trust of its members, [had] taken their money, their rights, and at times their very lives.” The protesters welcomed the public interest their protests have led to, and claimed they witnessed “an unprecedented flood of Scientologists [joining] us across the world to testify about these abuses.” The group said it would continue with monthly actions.

In a press statement from its European headquarters, Scientology accused the anonymous protesters of “hate speech and hate crimes”, alleging that security measures were necessary because of death threats and bomb threats. This also makes the Church want to “identify members” of the group it brands as “cyber-terrorists”.

Wikinews had correspondents in a number of protest locations to report on the events.

Anonymous states that the next protest is scheduled to take place on April 18, which happens to be the birthday of Suri, the daughter of Tom and Katie Cruise.

Retrieved from “https://en.wikinews.org/w/index.php?title=Scientology_protest_group_celebrates_founder%27s_birthday_worldwide&oldid=4462734”

Flooding in Slovenia leaves six dead

Thursday, September 20, 2007

Six people are confirmed dead after Tuesday’s heavy rains in Slovenia. Up to 300 mm of rain fell in just a few hours across the country, with swollen rivers, torrential streams and landslides sweeping away cars, houses, bridges, and whole sections of roads. In some areas, public services have not yet been restored, and healthcare and drinking water are being provided by mobile units. Some major roads are still closed. The damage includes the destruction of the resistance Hospital Franja, a museum site from the Second World war.

Worst hit was the valley town of Železniki, where three people died, 350 houses were flooded and over a hundred cars were swept away by the swollen river Sora. The dead included a woman who was swept away by the river in her car. The local health facilities and the elementary school are closed. Road communication to several surrounding villages was cut off by landslides. The flood also badly damaged local industry. The lower-lying town of Škofja Loka was also badly hit by the flood. A 31-year-old volunteer fire fighter was killed during the rescue effort in Cerklje.

Other badly affected areas include those along the rivers Sava, Savinja and Dravinja. All three rivers and many of their tributaries overflowed and flooded fields and towns. The low-lying parts of Celje, Laško and Nazarje were flooded by up to 2 meters of water. A 34-year-old man and a 24-year-old woman were killed in Podgorje near Braslov?e when their house was buried in a landslide. Two older people managed to leave the house unharmed.

Damage was widespread across the country and many roads were blocked by landslides. Velenje was cut off from the world for more than a day. The main road connecting the mountainous Bohinj valley to the central part of the country was closed, leaving only the mountain road to Tolmin.

Near the town of Cerkno, which was itself flooded, the museum site of Hospital Franja was nearly completely destroyed. The partisan resistance hospital from the Second World War, situated in a narrow mountain canyon above the town and named after the young doctor who worked at the site, treated hundreds of wounded resistance fighters and remained undiscovered by the Wehrmacht throughout the war. The hospital consisted of 12 wooden cabins and a miniature hydroelectric power plant. The power plant and all but one of the wooden cabins and were swept away by the swollen stream. Hundreds of exhibits, including medicine containers, locally produced medical equipment and an x-ray machine were lost or badly damaged.

The government of Slovenia directed €500,000 from the emergency fund to immediate rescue and repair operations, and has promised to help the affected municipalities and population with funds from the budget. The government has also pledged to rebuild the Hospital Franja museum site.

[edit]

Retrieved from “https://en.wikinews.org/w/index.php?title=Flooding_in_Slovenia_leaves_six_dead&oldid=4691831”

GM and Chrysler receive Canadian loans amid US restructuring ultimata

Friday, April 3, 2009

General Motors (GM) and Chrysler will receive bridge loans from the government of Canada and the provincial government of Ontario, however no more will be forthcoming from either Canadian or US governments unless the companies can reinvent themselves.

“This is a regrettable but necessary step to protect the Canadian economy. We are doing this on the assumption that we obviously cannot afford either in the United States or Canada a catastrophic short-term collapse.” said Stephen Harper, Prime Minister of Canada.

“We cannot, we must not, and we will not let our auto industry simply vanish. This industry is, like no other, an emblem of the American spirit; a once and future symbol of America’s success,” said Barack Obama, President of the United States. “These companies – and this industry – must ultimately stand on their own, not as wards of the state.”File:Sinsheim quer.jpg

Chrysler will receive CA$1 billion and may in fact be eligible for as much as CA$4 billion. If Chrysler succeeds in the next 30 days with a restructuring plan it would be eligible for a US$6 billion loan. A part of Chrysler’s restructuring plan must include a partnership with Fiat within 30 days to appease the US administration. Fiat is a supplier of smaller fuel-efficient vehicles, and the merger will help Chrysler to be viable in the North American market. A Chrysler court bankruptcy would inevitably lead to it being sold off.

As a part of Chrysler’s restructuring plans, Tom LaSorda, the president of Chrysler announced that Canadian operations would fold if it does not receive both the US commitment of $2.3 billion of aid and a new Canadian Auto Workers CAW contract to reduce all-in costs by CA$19 per hour. As a result of this announcement Chrysler’s auto sales volume in Canada dropped 23% compared to March of 2008.

GM has until the end of May to restructure its company to receive up to CA$7.5 billion. As part of the companies restructuring, General Motor’s chief executive Rick Wagoner was replaced Sunday with Fritz Henderson, the current chief operating officer. Henderson spoke out on Tuesday that GM has submitted a restructuring plan which would close five plants, and this may be increased to meet the requirements for financial aid. He is in full compliance with Obama’s auto task force to seek bankruptcy if GM cannot negotiate with their unions, bondholders and others.

GM recently brought forward the “GM Total Confidence” program providing consumer purchase protection for customers who lose their job for economic reasons within the first two years from purchase. As a result of Chrysler’s restructuring announcement in Canada, GM’s Canadian vehicle sales volume fell only 17.3% compared to 2008, an increase from the previous month.

GM must reduce some of its legacy costs which include its pensions and union health care costs. A part of GM’s ailments arose from investing in supplying truck and SUVs during an economy of high gas prices when consumers were demanding fuel efficient vehicles.

Tony Clement, Canada’s Minister of Industry, is hoping that the CAW will support the restructuring process and re-negotiate their agreement. Whereas a United Auto Workers negotiator has said, “I don’t see how the UAW will do anything until they see what the bondholders will give up.”

The Obama administration is looking toward bankruptcy proceedings for the automakers, “as a mechanism to help them restructure quickly and emerge stronger. [It will] quickly clear away old debts that are weighing them down. What we are asking is difficult. It will require hard choices by companies. It will require unions and workers who have already made painful concessions to make even more. It will require creditors to recognise that they cannot hold out for the prospect of endless government bailouts.” said Obama.

The auto parts suppliers and IT software exporters in India have already been affected by the declining auto sales. GM and Chrysler software contracts provide US$300 to 350 million a year to vendors in India. As well these two major automakers usually award US$1 billion contracts to auto parts suppliers. “We are worried and closely watching the developments in the US to gauge the impact. The decline in auto sales in the US has already hit the order books of Indian suppliers,” said a Delhi auto parts supplier.

“Going forward, the industry will undoubtedly be smaller, but if our efforts are successful it will be viable and it will support good jobs for Canadians,” said Clements.

Betty Sutton, Ohio’s Congresswoman put forward the CARS act which provides a US$3,000 to 5,000 incentive for those who trade in their vehicle for a fuel-efficient car. “It clearly stimulates the economy, and it gets the consumer into the showroom and gets them buying again. But importantly — and this is what I particularly like about it — it really helps the environment quite a bit in two respects.” said William Clay Ford Jr., executive chairman of Ford Motor Co.

Ford Motor Company has not come forward with requests for assistance.

Since December GM and Chrysler have received US$17.4 billion government loans.

HAVE YOUR SAY
How should the automakers re-invent themselves?
Add or view comments
Retrieved from “https://en.wikinews.org/w/index.php?title=GM_and_Chrysler_receive_Canadian_loans_amid_US_restructuring_ultimata&oldid=4455686”

Egyptian treasures found in ancient tomb

Friday, March 13, 2009

A team of archaeologists excavating an Ancient Egyptian tomb have discovered golden jewelry in a recently-discovered lower chamber at the Valley of the Kings burial site in Luxor, Egypt.

Two golden rings and five golden earrings were found in the tomb of Djehuty, an 18th-dynasty official of Queen Hatshepsut, and were probably the property of Djehuty or his family.

The discovery was announced by Farouk Hosni, Egypt’s current Minister of Culture.

Djehuty was overseer of the treasury and overseer of works for the Queen. Hatshepsut reigned approximately 1479–1458 BCE. Djehuty was responsible for managing the huge amounts of precious goods brought in from Egypt’s military expedition to Punt in the Horn of Africa and the vast building projects of Hatshepsut which have made the female pharaoh one of the most-remembered of any from ancient Egypt.

Djehuty died after Hatshepsut did, sometime during the reign of Thutmosis III. Both Hatshepsut’s and Thutmosis’s names are recorded on the tomb. In a fashion typical of ancient Egyptian rivalries, Hatshepsut’s name was partly obscured on the monument over the tomb sometime after the queen’s death.

The team, led by José Manuel Galán of the National Research Center (Consejo Superior de Investigaciones Científicas, CSIC), in Madrid, Spain, had been excavating the tomb, designated TT11 and located in the necropolis of Dra’ Abu el-Naga’, since 2002. While much of Djehuty’s funerary equipment was lost to fire in antiquity, the lower chamber of his tomb was concealed at the end of a three-meter shaft and discovered at the end of 2008.

A superficial description of the tomb itself was recorded almost two hundred years ago by 19th-century French Egyptologist Jean-François Champollion, rubble blocking the entrance hindered excavation until the 21st century. In that time, emphasis in Egyptology has changed from the cataloging of treasures to the investigation of ancient culture, life and religion.

Since excavation began, Djehuty’s tomb has yielded a number of surprises. It was discovered that the tomb was re-used repeatedly up to and during the Greco-Roman period. There is an unusual face-on depiction of pharaoh Thutmosis III hunting ducks, and the mummy of a young, bejewelled, as-yet unidentified woman.

In 2007, 44 preserved bunches of flowers thought to be from Djehuty’s funeral were found in the site. In their 8th season of excavation, which ended on February 22, 2009, the team also found considerable evidence that below Djehuty’s tomb is a network of burial sites from the 11th dynasty, four thousand years old.

The lower chamber also displays passages from the Egyptian funerary text the Book of the Dead on its walls and a colorful mural of the goddess Nut, an embodiment of the heavens, on the ceiling. The names of Djehuty and his parents were also intact in the second chamber; the names were defaced in the previously-known first chamber of the tomb, which had also been looted.

According to a press release from Dr. Zahi Hawass, Secretary General of Egypt’s Supreme Council of Antiquities, Djehuty’s tomb is only the fifth known decorated burial chamber of the 18th dynasty. An additional unusual feature of the tomb is that its upper chamber is decorated in relief, rather than simply paint. When the excavation is completed, Dr Galán’s team plans to open the site to the public as the carved stoneworks will not be destroyed by tourists’ activities as paint would.

The identification of Djehuty is a complicated one, as a number of officials of the 18th dynasty bore the name, including a general and several governors. The name itself is an alternate transliteration of the name of the Egyptian god usually written in English as Thoth.

Retrieved from “https://en.wikinews.org/w/index.php?title=Egyptian_treasures_found_in_ancient_tomb&oldid=2584613”

Magnitude 5.8 earthquake in Virginia felt up and down U.S. east coast, Pentagon evacuated

Tuesday, August 23, 2011

A 5.8 earthquake struck 4 miles southwest of Mineral, Virginia, 80 miles south of Washington D.C., at 1:51 p.m. EDT (17:51 UTC) and lasted for 15–30 seconds. The quake had a magnitude of 5.8 with an epicenter 27 miles (43 km) east of Charlottesville, Virginia. A 2.8 aftershock was reported at 2:46 pm EDT (18:46 UTC).

According to Twitter reports, the quake was felt inland as far as Cleveland and Toronto and along the coast from Boston to Georgia. Police sergeant James Ryan, from South Brunswick, New Jersey stated that “The 911 line is flooding with calls right now. People want to know what happened. They want to know if there was an explosion.”

The United States Capitol and The Pentagon in Arlington were evacuated, as were police headquarters and city hall in New York City. Numerous minor injuries have been reported in Washington, D.C.; however, none of them are serious. There have been confirmed reports of damage at the Washington National Cathedral and the Smithsonian Castle. The Pentagon was also damaged when a burst pipe caused flooding. The North Anna Power Station lost offsite power and had to shut down, turning to four diesel generators to maintain cooling of the facility. Both the JFK and Newark airports were briefly shut down and the control towers were evacuated. A release from Amtrak stated that trains will be operating at reduced speed, but no damage has been found on any rail lines. The Washington Metro is also operating on reduced speed, with some stations closed down, while lines are evaluated.

In Boston, it was reported that the building at 111 Devonshire Street appeared to be leaning onto the adjacent building at 50 Milk Street, with fears that it could collapse. The street was blocked off while the Boston Fire Department investigated. However, it was determined that the buildings had always appeared like that. Nevertheless, the Boston Fire Department investigated the roof and the inside of 111 Devonshire St. After 30 minutes, the building was determined to be safe.

This is the second strongest earthquake to originate in Virginia since records have been kept, after the one recorded on May 31, 1897, near Giles County, which was estimated at a magnitude of 5.9.

The Dow initially dropped 50 points after the earthquake struck, but later increased over 100 points.

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

The Pentagon was evacuated moments after a 5.8 earthquake was felt throughout the US east cost. Image: U.S. Navy.

A crowd of evacuated businesspeople on Wall Street in New York City. Image: Alec Tabak.

Federal employees evacuated buildings at 13th and C Streets in Washington, D.C.Image: US Department of Agriculture.
The office of the Pan American Health Organization in Washington, D.C. was also evacuated.Image: Antonio Zugaldia.
Building occupants evacuate onto Market Street in Philadelphia.Image: Douglas Muth.
Damage to the Embassy of Ecuador in Washington, D.C. Image: William Neuheisel.
People gather on Vermont Avenue, outside the headquarters of the US Department of Homeland Security, in Washington, DC. Image: Tim1965.
A building in McLean, Virginia sustained some damage to its ceiling. Image: Claire Schmitt.
A crowd of evacuees in McLean, Virginia. Image: Claire Schmitt.
After the earthquake, there were concerns that 111 Devonshire St. in Boston appeared to be leaning onto the adjacent 50 Milk St with fears it may possibly collapse. It turned out the buildings have always appeared like this. Image: Patrick Mannion.
Retrieved from “https://en.wikinews.org/w/index.php?title=Magnitude_5.8_earthquake_in_Virginia_felt_up_and_down_U.S._east_coast,_Pentagon_evacuated&oldid=4242437”

Students raise record amounts of money during Christmas fundraiser at Benet Academy, Illinois

Saturday, December 19, 2009

Students at Benet Academy in Lisle, Illinois, United States raised record amounts of money this year during their Christmas Drive fundraiser.

The annual two-week event is aimed at promoting the Christmas spirit in helping the poor and needy. Coordination of the fundraiser is a joint effort by the faculty and three students organizations—Student Government, National Honor Society (NHS), and Outreach. Donations from previous years have allowed Outreach to provide food and Christmas gifts to dozens of families during the holiday season. NHS in the past has provided blankets, winter gear, and toys to local families as well.

A semi-formal dance held on Dec. 5 kicked off the Christmas Drive this year. Two weeks of in-school fundraising efforts ensued, including several no-uniform days and Benet’s traditional Penny Wars. In that four-day activity, the four grade levels competed against each other to see who can collect the most pennies. Nickels, dimes, and quarters were allowed but had negative value in the class total. The seniors won this contest, allowing them to have a no-uniform day on Dec. 11. Other activities such as bake sales and a beard-growing contest raised money as well.

During an all-school assembly on Friday, the last day of the drive, Student Government President Kyle Marinko announced that preliminary calculations put the amount of donations at US$53,392.82, a record for the school. Last year’s drive collected approximately US$42,000. A final total has not been officially announced, since Student Government officials continue to count additional donations that have been received.

Retrieved from “https://en.wikinews.org/w/index.php?title=Students_raise_record_amounts_of_money_during_Christmas_fundraiser_at_Benet_Academy,_Illinois&oldid=3804472”

EU adopts renewable energy measures

Friday, March 9, 2007File:Angela Merkel SJ8.jpg

European Union leaders on the second day of their summit have agreed on measures to decrease emission of greenhouse gases and to start using more biological fuels. The governments of the 27 countries in Brussels endorsed 3 main binding targets:

  • to reduce greenhouse gas emission levels by the year 2020 by 20% compared to the level of 1990
  • renewable energy should make up 20% of energy consumption by 2020
  • a 10% share for biofuels in the total consumption of fuels in E.U. transport.

This way, the E.U. wants to contribute in reaching the strategic goal of limiting the global average temperature increase to less than 2°C above pre-industrial levels. The individual targets for countries will need to be established based on national starting points and potentials, according to the plan. The plans don’t mention an enforcement mechanism yet.

“We can say to the rest of the world, Europe is taking the lead. You should join us fighting climate change.”

In the summit’s conclusions, the E.U. underlines its ambitions as a leading force in international climate protection. German Chancellor Angela Merkel called the targets “ambitious and credible”.

Europe is prepared to even increase the objectives if other developed countries follow suit, and it invites other countries to come forward with their plans for the environment beyond 2012, when the Kyoto protocol ends. In June, Merkel plans to discuss the measures with the other members on the Group of Eight summit.

The proposal takes into account the sovereignty of individual countries to determine exactly which energy sources they use. More specifically, each member state should decide if they wish to use nuclear power or not. Some countries oppose the use of nuclear energy as an alternative to fossil fuels, and Germany is even in the process of dismantling its nuclear energy production. France on the other hand produces 70% of its electricity in nuclear power plants. [13% of France’s total energy consumption is nuclear.] The report also stresses the importance of nuclear safety in the discussion over nuclear energy.

The summit also asked the European Commission to come up with proposals to reduce energy consumption in lighting and offices by 2008 and 2009. The idea is to replace conventional light bulbs with more energy-efficient alternatives such as the energy saving light bulb.

Another energy-related topic in the conclusions is an agreement on increased security of energy supply. Through member state solidarity and a more interconnected and integrated market, eastern European countries hope to secure their energy supplies in case Russia would cut the supply.

During their two-days summit, the E.U. also discussed economic growth, employment, better regulations and international relations issues.

Retrieved from “https://en.wikinews.org/w/index.php?title=EU_adopts_renewable_energy_measures&oldid=4201126”

Pet Food Processing Market Growth Factors, Ongoing Trends And Key Players 2026

The pet food processing market size is projected to grow from USD 4.4 billion in 2019 to USD 6.2 billion by 2026, recording a compound annual growth rate (CAGR) of 5.0% during the forecast period. The increasing trend of pet food product premiumization and the rising acceptance of pets across regions are factors that are projected to drive the growth of the pet food processing market. Furthermore, acceptance of pets as family members among pet owners, increasing disposable income, and rising urbanization are factors that are also projected to drive the market growth.

Key Players in the Market:

  • Andritz Group (Austria)
  • Buhler Holding AG (Switzerland)
  • The Middleby Corporation (US)
  • GEA Group (Germany)
  • Baker Perkins Ltd. (UK)
  • Clextral SAS (France)
  • Precision Food Innovations (US)

Download PDF brochure:

The dog food segment is estimated to account for the largest share in the market.

The dog food segment is estimated to dominate the pet food processing market, on the basis of application, in terms of value, in 2019. Dog food is witnessing increased demand due to the increasing dog population across regions. The increasing trend of pet humanization has also encouraged dog owners to accept them as companions due to their friendliness, which is projected to drive the demand for premium dog food products, thus contributing to the growth of the overall market.

The dry segment is projected to account for the largest share during the forecast period.

Dry pet food production is increasing, and its sales are projected to remain high in developing countries, such as China, Russia, and Poland. The demand for dry pet food products is increasing due to the cost-effectiveness of dry form, convenience in handling, and ease of purchasing in bulk. In addition, with the increase use of extrusion technologies, dry pet food production remains high. These factors are projected to drive the demand for pet food processing solutions.

The forming equipment segment in the market is projected to dominate the market.

The forming equipment segment is estimated to dominate the market in 2019. Pet food processors are shifting their focus toward extrusion-based manufacturing. The introduction of new extrusion technologies and its use in the pet food sector are factors that are projected to drive the demand for forming equipment in the market.

Speak to Analyst:

The Asia Pacific region is projected to be the fastest-growing market for pet food processing during the forecast period.

The Asia Pacific region is projected to be the fastest-growing market for pet food processing during the forecast period. The region witnesses a high demand for pet food products due to the increasing acceptance of pets. The rising concerns among pet owners regarding the health of pets have led to an increase in demand for high-quality pet food products that require specialized machinery. These factors are projected to create growth opportunities for equipment manufacturers in countries such as India, China, Japan, and Thailand.

Wikinews interviews Democratic candidate for the Texas 6th congressional district special election Daryl Eddings, Sr’s campaign manager

Tuesday, April 20, 2021

Wikinews extended invitations by e-mail on March 23 to multiple candidates running in the Texas’ 6th congressional district special election of May 1 to fill a vacancy left upon the death of Republican congressman Ron Wright. Of them, the office of Democrat Daryl Eddings, Sr. agreed to answer some questions by phone March 30 about their campaigns and policies. The following is the interview with Ms Chatham on behalf of Mr Eddings, Sr.

Eddings is a federal law enforcement officer and senior non-commissioned officer in the US military. His experience as operations officer of an aviation unit in the California National Guard includes working in Los Angeles to control riots sparked by the O. J. Simpson murder case and the police handling of Rodney King, working with drug interdiction teams in Panama and Central America and fighting in the Middle East. He is the founder of Operation Battle Buddy, which has under his leadership kept in touch with over 20 thousand veterans and their families. He was born in California, but moved to Midlothian, Texas. He endeavours to bring “good government, not no government”. Campaign manager Faith Chatham spoke to Wikinews on matters ranging from healthcare to housing.

An Inside Elections poll published on March 18 shows Republican candidate Susan Wright, the widow of Ron Wright, is ahead by 21% followed by Democrat Jana Sanchez with 17% and Republican Jake Ellzey with 8% with a 4.6% margin of error among 450 likely voters. The district is considered “lean Republican” by Inside Elections and voted 51% in favour of Donald Trump in last year’s US presidential election. This is down from 54% for Trump in 2016’s presidential election, the same poll stated.

Retrieved from “https://en.wikinews.org/w/index.php?title=Wikinews_interviews_Democratic_candidate_for_the_Texas_6th_congressional_district_special_election_Daryl_Eddings,_Sr%27s_campaign_manager&oldid=4684113”

U.S. manufacturer General Motors seeks bankruptcy protection

Monday, June 1, 2009

United States automobile manufacturing firm General Motors filed for bankruptcy and Chapter 11 protection from its creditors at 12:00 UTC Monday, in a Manhattan, New York federal bankruptcy court. This was the largest bankruptcy filing for a U.S. manufacturing company, and with declared assets of $82.29 billion and a debt of $172.81 billion, and the fourth largest bankruptcy filing in recent U.S. history — after the bankruptcies of {{w|Lehman Brothers|| ($691.06 billion), Washington Mutual ($327.91 billion), and WorldCom ($103.91 billion).

The filing, expected to be the first of many, was for a New York GM affiliate, Chevrolet-Saturn of Harlem Incorporated. Numbered 09-50026, it named GM as a debtor in possession, and was filed before judge Robert Gerber.

GM is to be represented throughout the filing process by Weil Gotshal & Manges, a New York law firm specializing in bankruptcy.

The chief restructuring officer, named in the filing, is to be Al Koch, a managing director at AlixPartners LLP in New York, who will report directly to Fritz Henderson, the Chief Executive Officer of General Motors.

In its bankruptcy petition, GM listed its primary creditors as:

Name Amount owed (USD millions)
Wilmington Trust 22,000
United Auto Workers union (UAW) 20,560
Deutsche Bank 4,440

The amount owed to UAW excludes “approximately $9.4 billion corresponding to the GM Internal VEBA”. USD22,760 millions are owed to bondholders.

Analysts have observed that the effect of the bankruptcy filing on the U.S. economy is not expected to be as major as it once would have been. One such voice, Mark Zandy, an economist at Moody’s Economy.com, commented that “Bankruptcy now is irrelevant in terms of the economic consequence of what’s happening to GM.” Such analysts believe that the economic impact of GM’s problems has already been felt, with its effects on parts suppliers and employment. They also believe that GM’s programme of accelerated payments, and its participation in a U.S. Treasury program to ensure prompt payments to parts manufacturers, will have cushioned the effect of the bankruptcy itself.

Speaking on Bloomberg Radio, David Cole, chairman of the Center for Automotive Research in Ann Arbor, stated that the fragility of the parts suppliers, the loss of whom would threaten the entire automobile manufacturing industry, was of more immediate concern than the GM bankruptcy.

Also filing for chapter 11 protection today were Saturn LLC and Saturn Distribution Corporation, subsidiary companies of General Motors.

As a consequence of the bankruptcy, General Motors Corporation (GM.N) was removed from the Dow Jones Industrial Average, and was replaced by Cisco Systems (CSCO.O), these changes scheduled by Dow Jones & Company to take effect from the opening of trading on June 8.

Retrieved from “https://en.wikinews.org/w/index.php?title=U.S._manufacturer_General_Motors_seeks_bankruptcy_protection&oldid=4455642”
Shopping Basket