General Motors faced its last obstacle to a quick and orderly bankruptcy yesterday, as its lenders voted on exchanging their claims for a stake in the restructured automaker.
Under orders from the Treasury Department, the company offered bondholders a 10 percent stake in the new GM, and has added to the offer warrants for another 15 percent stake. In voting to accept the proposal, bondholders would also agree not to oppose GM should it pursue a sale under Section 363 of the bankruptcy code, which allows the automaker to sell its assets and...
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Barack Hussein Obama was elected the 44th president of the United States on Tuesday, sweeping away the last racial barrier in American politics with ease as the country chose him as its first black chief executive.
The latest news on the 2008 election from around the nation. Join the discussion.
"Now comes the tough part, of course. But the symbolism of this magnificent choice by the American people cannot but illuminate the world."
The election of Mr. Obama amounted to a national catharsis — a repudiation of a historically...
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Today, Barbara Anwine of the Election Protection Coalition (1-866-OUR-VOTE), a nonpartisan group, told MSNBC about voter suppression tactics they have witnessed around the country.
The group says it has received over 80,000 voter calls at the Election Protection Command Center.
Some emerging trends:
- Broward County leads Florida in voter requests for assistance.
- Registration-related problems rank #1 in nearly every battleground state - hundreds of calls focus on that problem, most often in Texas, New York, New Jersey, Georgia,...
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The character, called Zakumi, has been given his own biography and name to reflect the country's aims and hopes.
Organisers said the character was 'born' on 16 June, 1994 - the year in which apartheid ended.
The date is celebrated as Youth Day to mark the 1976 Soweto uprising when young protesters struck a blow against white rule.
At the mascot's introduction at a state TV studio, a performer in a Zakumi costume kicked around a football with Mark Fish, who helped lead South Africa to the African Cup of Nations title in 1996.
The...
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Lehman Brothers filed for Chapter 11 bankruptcy. Its businesses in Britain were already placed in administration, said the administrator, accounting firm PricewaterhouseCoopers, and employees carrying boxes and bags were walking out of Lehman’s London offices.
Bank of America Corp. said it is snapping up Merrill Lynch & Co. Inc. in a US$50 billion all-stock transaction.
The demise of the independent Wall Street institutions came as shock waves from the 14-month-old credit crisis roiled the U.S. financial system six months after the...
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Police arrested two men dressed like ninjas and armed with Asian martial arts weapons who said they were delivering warning letters to drug dealers and users.
Calling themselves "Shinobi warriors," the men carried knives, throwing stars, swords, nunchucks and a bow and arrows.
Tadeusz Tertkiewicz, 20, and Jesse Trojaniak, 19, were each charged with weapons possession. Tertkiewicz is also charged with harassment for a letter left for an ex-girlfriend.
The letters warned drug users and drug dealers that the "Shinobi will stop your cruel...
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Barrack Obama has claimed the Democratic nomination having secured enough delegates and super-delegates to claim victory. Of course, technically this assumes that the supers all vote as they say they will and they are free to change their minds. So no doubt we'll continue to hear debate on this subject until either the convention or Hillary steps down.
Clinton has yet to acknowledge Obama's victory in the bruising Democratic race and her aides — also dodging that conclusion — said on the morning talk shows that she would take a few days...
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