U.S. manufacturer General Motors seeks bankruptcy protection
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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.
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August
18
Your Puppy Wheelchair: A Pair Of Wheels As Well As Some Other Parts That Adjusted Lives
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- Safety And Mobility Website
Your Puppy Wheelchair: A Pair Of Wheels As Well As Some Other Parts That Adjusted Lives
by
Mariecar
It s pleasing to see news about household pets that were once basically on the brink of passing away now thriving and making the most of active lives. Normally, their mobility is still restricted, what with the use of, most frequently, their hind legs gone, all the same, it is a far better come out as compared to could be expected, all because of loving human households who don t stop trying and also to a simple device called a
dog wheelchair
.
[youtube]http://www.youtube.com/watch?v=WU6NBZ1vKhI[/youtube]
Somebody once assumed I\’m kidding as i described the pet wheelchair. These people assumed I created the product. I wish! Then perhaps I could take the credit and also, raked in all the money the gross sales are bringing in. Kidding aside, this particular little gadget has produced quite the difference in lots of pet s life-and their humans as well, I m sure. As everyone knows, some family pet enthusiasts think of their dogs (or perhaps cats for that matter) as part of the family members. It can be an agonizing moment once your dearest puppy is troubled by a debilitating illness and is faced with a lifetime of discomfort, paralysis, and also immobility that sometimes the kinder option would be to get them put down. Dog wheelchairs have launched an alternative solution for ailing house animals. In combination with a number of treatment programs, for instance surgery, treatment, and therapy they could get a fighting opportunity.
While not all house animals make very good applicants for such steps, numerous do get another chance at life that years ago could have not. Now, even house animals on assisted mobility equipment have gotten to love and experience life some of their normal counterparts have not. Some house animals on
dog wheelchairs
get traveled around the globe, climbed mountains, came out on television, starred on dog food advertisements, and many more; while others are satisfied to play outdoors with the youngsters or wait for anyone to get home so you can go for an after dinner walk in the park. They lead pretty full, varied, hectic lives.
This little gadget which has built such a huge impact on pets lives now come in little tiny sizes also so that it can support your cats as well. It s just a wee bit regrettable that it s known as a dog wheelchair. I wonder if it s too late for re-branding. Let s observe just what the cat people have to say about this.
Learn more about
pet wheelchair
and what it can do for you. Check them out now at http://www.dogwheelchairscenter.com/.
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ArticleRich.com
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Wheelchair rugby gets underway at London Paralympics
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Thursday, September 6, 2012
London, England — Wheelchair rugby got underway yesterday at London’s Basketball Arena with four games being played: the United States versus Great Britain, Sweden versus Belgium, Australia versus Canada, and Japan versus France.
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Before a full house at a game that was the first one to sell out in the lead up to the start of the London Paralympics, the United States national wheelchair rugby team defeated Great Britain national wheelchair rugby team by a score of 56–44. While the game got off to a slow start for the United States, once the team found its rhythm, they dominated the home team and appeared to score at will. Despite this, the crowd supported their side, even when they were down by eight points. When the United States bench started a chant of U-S-A! U-S-A!, the crowd soon drowned them out with a chant of Team G-B! Team G-B!
The United States came to London as defending gold medalists and ranked first in the world. Coming into the game, the team’s assistant coach James Mate told the media regarding this game, “To be truthful we have played the home team a couple of times, but you have to play the game in that moment and it can give the hosts the edge. […] In Beijing, Great Britain gave us our best game, and the semifinal was a three-goal game. We had something similar in June (at the Canada Cup). […] They (Great Britain) play some like us and some like Canada, and are one of the teams that have a lot of good players, so we can’t focus on just one player, but on the team as a whole.”
Ranked sixth in the world, Great Britain came to London as the home town favorites. Their roster included club players from across the country including David Anthony who plays for the Cardiff Pirates, Andy Barrow, Bulbul Hussain and Steve Brown who play for the Kent Crusaders, Jonathan Coggan and Mandip Sehmi who play for the Stoke Mandeville Storm, Mike Kerr who plays for the North West Bulls, Myles Pearson who plays for the West Coast Crash, and the team’s only female player Kylie Grimes who plays for the London Wheelchair Rugby Club with teammate Ross Morrison.
Before the game, first time Paralympian Great Britain wheelchair rugby player Mike Kerr told the media regarding his squad selection, “I felt I’d never been given a chance to get noticed, so I got myself some court time at big tournaments like Knock and Roll in 2010 (a USA national tournament) and Bernd Best (the biggest wheelchair rugby tournament in the world, held in Germany). I played well and I think people finally took notice.” Regarding the wait to play, Kerr said, “It’s hard. I hate waiting around. I’m here to do a job and the sooner I get started the better. But it’s been a great experience so far. The crowd and support have been amazing. […] I’m really confident. We took confidence from how we played against them at the Canada Cup (in June). If we play our game we can shock them.”
The United States meets Japan while Great Britain meets France later today in their second games in pool play.
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In the second wheelchair rugby match of the London Paralympics, Sweden defeated Belgium by a score of 52–42.
Sweden, the current European champions, came to London with a relatively new coach, who only took over the side in late 2011. Belgium’s coach Bob Vanacker also plays on the team. He and Peter Genyn and Lars Mertens play their club wheelchair rugby in the United States.
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In the first game for both teams since the London Paralympics began, Australia national wheelchair rugby team defeated Canada by a score of 64–52. Australia and Canada both had their flag bearers from the opening ceremonies represented by this sport, Greg Smith for Australia and Garett Hickling for Canada.
Beijing silver medalists Australia came to London ranked second in the world. Their last major competition before the Paralympics was the Canada Cup, where they lost to the United States by a single point. The Australian side included flag-bearer Greg Smith at his fifth games, Nazim Erdem who is at his third Paralympics, Ryley Batt and Ryan Cott who competed at the 2004 and 2008 Games, Cameron Carr who competed at the Beijing Games, Chris Bond, Cody Meakin, Ben Newton, Andrew Harrison, Josh Hose and Jason Lees who made their Paralympic Games debut.
Canada came into their match against Australia as returning bronze medalists. Their roster included Ian Chan who was on the team that finished first at the 2002 World Championships, the former ice hockey player Jason Crone from Owen Sound, Ontario, debut Paralympian from Embrun, Ontario Oarice Dagenais, 2002 World Champion Jared Funk from Manitoba, five time Paralympian Garett Hickling, Trevor Hirschfield who is decribed by the Canadian Paralympic Committee as one of the world’s best low point players, Athens silver medalist and Beijing bronze medalists Fabien Lavoie, eighteen-year-old Zak Madell, University of Arizona alumnist Travis Murao, 2010 World Championships All Star Ten player Patrice Simard, former recreational hockey player David Willsie and Harrow, Ontario native Mike Whitehead.
Australia meets Sweden later today while Canada will take on Belgium.
In the last match of day yesterday, Japan defeated France 65–56. France qualified for the tournament despite the national team only being five years old. Japan came to London having beaten the top ranked United States in this year’s Canada Cup.
