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Jul 6, 1:48 PM
(ET) By BREE FOWLER</SPAN></SPAN> 
(AP)
In a June 30, 2009, file photo General Motors CEO Fritz Henderson
leaves bankruptcy court ...Full Image </SPAN> Google sponsored links Official GM Site - Change at GM is Under Way. Visit Official Site to See How. www.GMReinvention.com The Ford Story - See Ford's Progress on their Plan to Make the World's Best Vehicles. TheFordStory.com </SPAN> </SPAN></SPAN> NEW YORK (AP) - A bankruptcy judge has ruled that General Motors Corp. can sell the bulk of its assets to a new company, potentially clearing the way for the automaker to quickly emerge from bankruptcy protection.</SPAN> U.S. Judge Robert Gerber said in his 95-page ruling late Sunday that the sale was in the best interests of both GM and its creditors, whom he said would otherwise get nothing.</SPAN> "As nobody can seriously dispute, the only alternative to an immediate sale is liquidation - a disastrous result for GM's creditors, its employees, the suppliers who depend on GM for their own existence, and the communities in which GM operates," Gerber wrote in his ruling.</SPAN> An appeal is expected. A Chicago law firm representing people who have sued GM in several auto accident cases filed paperwork Monday saying it would appeal to U.S. District Court in New York. The deadline to appeal is noon Thursday, after which point Gerber's order takes effect and the sale is free to close.</SPAN> Attorneys for some of GM's bondholders, unions, consumer groups and individuals with lawsuits against the company have said their needs have been pushed aside in favor of the interests of GM and the government.</SPAN> GM's government-backed plan for a quick exit from Chapter 11 hinges on the sale, which will allow the automaker to leave behind many of its costs and liabilities. The Treasury Department has vowed to cut off funding to GM if the sale doesn't go through by July 10.</SPAN> Steve Rattner, a top aide to Treasury Secretary Timothy Geithner and the head of the Obama administration's auto task force, said the government was "confident that his decision will stand and the sale of GM's assets to new GM will proceed expeditiously."</SPAN> The ruling comes after a three-day hearing that wrapped up Thursday, during which GM and government officials urged a quick approval of the sale, saying it was needed to keep the automaker from selling itself off piece by piece.</SPAN> "Now it's our responsibility to fix this business and place the company on a clear path to success without delay," GM CEO Fritz Henderson said in a statement early Monday.</SPAN> Last month, a group of bondholders and others took their objections to Chrysler LLC's sale to Fiat Group SpA all the way to the Supreme Court, which declined to rule on them. Still, the proceedings delayed the Auburn Hills, Mich.-based automaker's exit from bankruptcy protection.</SPAN> Consumer groups have cautioned that people injured by a defective GM product before June 1, when the automaker filed for bankruptcy, would have to seek compensation from the "old GM," the collection of assets leftover from the sale, where they would be less likely to receive compensation.</SPAN> Joanne Doroshow of the Center for Justice & Democracy said in a statement the issue "is far from over."</SPAN> "It is morally reprehensible that GM will pay for injuries and deaths that occur after the bankruptcy process, but not for the hundreds of victims who have already been hurt by defective GM cars," Doroshow said.</SPAN> The "old GM," which will be known as Motors Liquidation Co., will include a smattering of properties, several of which are facilities already slated to be closed. They will be sold to the highest bidder under court supervision.</SPAN> Other assets to be filed under the old GM include brands like Hummer, Saturn and Saab, for which GM has lined up buyers. They also include all current GM common stock, which - despite its active trading on over-the-counter markets - will soon be worthless.</SPAN> The Detroit car maker's Chapter 11 filing was the fourth-largest in U.S. history.</SPAN> Even with less debt, fewer liabilities and a reduced number of dealerships and brands, GM will operate in an environment where fewer American are buying cars. At the current pace, automakers will sell around 9.7 million vehicles this year. That's a reduction from sales of more than 16 million vehicles as recently as 2007.</SPAN> In June, the automaker captured 20.3 percent of the U.S. market. GM has estimated that it can maintain a market share between 15 and 17 percent, reflecting its plan to sell off three brands and end its Pontiac line.</SPAN> GM has several new cars coming to market next year, including the Chevrolet Volt, a plug-in hybrid electric car. The Volt might be a promising vehicle, but with an expected $40,000 price tag it might only be a niche player, said James E. Schrager, clinical professor of entrepreneurship and strategy at the University of Chicago Graduate School of Business.</SPAN> Upcoming small-car models such as the Chevy Cruze and Spark may fare well, but will face heavy competition from foreign automakers already in that segment of the market and from Ford Motor Co. (F)'s new Fiesta, which the company has already started advertising.</SPAN> Overall, GM's major challenge will be winning back customers who have migrated to foreign competitors. Some newer GM models have received good reviews for quality and performance, but that hasn't persuaded enough consumers to buy GM cars.</SPAN> "The problem is the status of General Motors' brands," Schrager said. "They have to have some really breakthrough products that work and resonate with consu 阅读全文>> |
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丁香花园： 上海被称为万国建筑博览园，而点缀在这个城市中的风格各异的老式洋房，更是一道亮丽的风景线。位于华山路上的丁香花园，是上海滩最负盛名、保存最为完好的老洋房之一。丁香花园的盛名，不仅在于其建筑本身，还在于洋房主人身份的传奇色彩。 丁香花园的主人李经迈，是清末朝廷重臣李鸿章的幼子，其出身为庶出，是姨太太莫氏所生，此姨太太原为李家丫环出身，后被李鸿章收房，故在李家地位不高，李经迈也在李家受歧视。李经迈幼时长得瘦瘦小小，颇招李鸿章怜疼。李鸿章晚年曾为之买下一批房产，并对人说：这个孩子长得瘦小，将来恐难以自立，这些房产归其食用吧。这孩子再笨，收房租还是会收的吧。其实李鸿章当年看错了李经迈，其长大后机灵、奸诈。李鸿章去世后分家时，因其庶出，几个兄长都看不起李经迈，就把当时不值钱的股票和地段最差的房产分给了他。说来也奇，这些财物到了李经迈手里，没有多少年，就千变万化。他抓住各种市场机会，使手中的股票和地产增值无数倍，后遂成巨富。但他的财富中，也有一些是骗诈得来的，极不光彩。 甲午战败后，李鸿章声名扫地，遭国人一片唾骂。于是，并称为曾国藩“四大弟子”之一的桐城派 |
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亚运比基尼小姐选拔赛近日开始海选，本次大赛的选手面带自信的微笑、身材高挑、气质独特，不少人是职业模特，还有一些是在艺术院校的学生。她们身着比基尼泳装，摆出各种撩人姿势，要在众多选手中选出最美的比基尼小姐可真是难为专家评委们了。 |
