Friday, July 10, 2009

GM Emerges from Bankruptcy


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ETROIT — The new General Motors will be far faster and more responsive to customers than the old one, and it will make money and repay government loans faster than required, CEO Fritz Henderson said Friday as the company emerged from bankruptcy protection.

Henderson said the automaker completed its 40-day stay under court supervision far faster than anyone thought it could, saying it would repay about $50 billion in government loans ahead of a 2015 deadline.

He told reporters the company now will focus more on customers, including a partnership with the online auctioneer eBay for people to buy vehicles by auction online.

The new GM will build more cars and trucks that consumers want and launch them faster than in the past, the CEO said.

"We recognize that we've been given a rare second chance at GM, and we are very grateful for that. And we appreciate the fact that we now have the tools to get the job done," he said.

He announced that the company's management ranks will be cut by 35 percent, or 450 executives, including the elimination of its North American president position. Henderson said he will take responsibility for North American operations.

Henderson also said the automaker was launching a "Tell Fritz" Web site to allow owners and the public to share their concerns with senior management and he planned to go out on the road every month. GM also planned to test a partnership with eBay that could "revolutionize" how people buy cars online, he said.

"We need to listen to the questions, ideas and the concerns of the people who matter the most," Henderson said.

The new company will focus on three top priorities, customers, cars and culture, Henderson said.

"If we don't get this right, nothing else is going to work," he said during a morning news conference at GM's Downtown Detroit headquarters. "Business as usual is over at General Motors."

India toxic alcohol toll tops 100


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he number of people who have died in the western Indian state of Gujarat after drinking toxic illegal alcohol has now risen to 107, police say.

Meanwhile, in raids across the state, police have detained over 800 people and Chief Minister Narendra Modi has vowed to punish those responsible.

In Ahmedabad city, where the deaths have taken place, schools and colleges have shut in protest.

Officials say the final toll may be higher as more people are in hospital.

Most of the dead are slum dwellers. Gujarat is a "dry" state where the sale of alcohol is banned.

But deaths from illegally brewed alcohol are common in South Asia.

Last year, about 150 people died from drinking tainted alcohol in the southern states of Karnataka and Tamil Nadu.


'Done nothing'

"The way more than 100 people have died because of hooch tragedy... is really shameful on the part of the state government," news agency Reuters quoted Manish Doshi, a leader of the youth wing of the state opposition Congress party, as saying. "It's been three days since the tragedy took place and the government has done nothing," he said.

The Youth Congress and the Congress-supported students' association National Students' Union of India (NSUI) called on schools and colleges in the city to remain shut.

The Congress has also called for the resignation of Chief Minister Narendra Modi who belongs to the Bharatiya Janata Party (BJP).

Slum dwellers and poor labourers in Ahmedabad were first admitted to hospital on Tuesday after they fell ill following a night of drinking.

After the fatalities rose sharply, the state government suspended six policemen for negligence.

Illegally brewed alcohol is readily found across India and is popular because it is cheap and said to be stronger than legal brews.

But it is often laced with chemicals and pesticides in an attempt to boost its strength and has often caused people to die.

Gujarat is a "dry" state where consumption and sale of alcohol is banned.

It was the home state of India's independence leader, Mohandas Gandhi, who was a strong advocate of prohibition.



India toxic alcohol toll tops 100


T
he number of people who have died in the western Indian state of Gujarat after drinking toxic illegal alcohol has now risen to 107, police say.

Meanwhile, in raids across the state, police have detained over 800 people and Chief Minister Narendra Modi has vowed to punish those responsible.

In Ahmedabad city, where the deaths have taken place, schools and colleges have shut in protest.

Officials say the final toll may be higher as more people are in hospital.

Most of the dead are slum dwellers. Gujarat is a "dry" state where the sale of alcohol is banned.

But deaths from illegally brewed alcohol are common in South Asia.

Last year, about 150 people died from drinking tainted alcohol in the southern states of Karnataka and Tamil Nadu.


'Done nothing'

"The way more than 100 people have died because of hooch tragedy... is really shameful on the part of the state government," news agency Reuters quoted Manish Doshi, a leader of the youth wing of the state opposition Congress party, as saying. "It's been three days since the tragedy took place and the government has done nothing," he said.

The Youth Congress and the Congress-supported students' association National Students' Union of India (NSUI) called on schools and colleges in the city to remain shut.

The Congress has also called for the resignation of Chief Minister Narendra Modi who belongs to the Bharatiya Janata Party (BJP).

Slum dwellers and poor labourers in Ahmedabad were first admitted to hospital on Tuesday after they fell ill following a night of drinking.

After the fatalities rose sharply, the state government suspended six policemen for negligence.

Illegally brewed alcohol is readily found across India and is popular because it is cheap and said to be stronger than legal brews.

But it is often laced with chemicals and pesticides in an attempt to boost its strength and has often caused people to die.

Gujarat is a "dry" state where consumption and sale of alcohol is banned.

It was the home state of India's independence leader, Mohandas Gandhi, who was a strong advocate of prohibition.

Sania Mirza all set to get engaged


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yderabad, Jul 10: The ace tennis player, who stole many trophies on international arenas and stole millions young Indians' hearts, is all set to get engaged to her childhood friend
Sohrab Mirza.After the incidents of two love struck fans showing up at her residence in the past two days, security has become a big worry for the Mirzas. The family has restricted the number of invited guest to just 300, say media reports.


"The engagement ceremony is going to be a small and private affair. Only a select few relatives and friends have been invited. It’s taking place at Hotel Taj in Hyderabad," a media report quoted sources as saying.

Sania Mirza will be wearing clothes designed specially for her by Delhi designers Nikhil and Shantanu Mehra. Her mother and sister too will be reportedly sporting designer wear too.However, nothing much is known about Sohrab Mirza other than the fact that the couple knew each other from school. The families planned the wedding when Sania Mirza was playing for the country in the French Open.