Swiss court rules in favor of American account holder

Saturday, January 23, 2010

An American client of Switzerland-based bank, UBS, has won an appeal in Swiss court on Friday against providing the Internal Revenue Service (IRS) of the United States with relevant information about his offshore accounts.

The Swiss court ruled that the man’s failure to complete an IRS tax form, no matter how much money it pertained to, was not in itself fraudulent behavior. The case calls into question an agreement made between Switzerland and the United States last year in which Swiss tax authorities would supply the IRS with information on nearly 4,500 suspected tax evaders and their respective accounts.

A further twenty-five similar cases are still pending; the verdicts of which may be influenced by this precedent-setting case.

The Swiss government will meet next Wednesday to discuss how to better implement last year’s Swiss-US banking accord. As it pertains to the case at hand, if they so choose, Swiss tax officials can file a further appeal petitioning the court’s decision.

UBS and the US Department of Justice both have yet to comment on the matter.

According to the US government, UBS is “hiding” over US$15 billion in assets on behalf of American account holders.

Retrieved from “https://en.wikinews.org/w/index.php?title=Swiss_court_rules_in_favor_of_American_account_holder&oldid=1307365”

Edmund White on writing, incest, life and Larry Kramer

Thursday, November 8, 2007

What you are about to read is an American life as lived by renowned author Edmund White. His life has been a crossroads, the fulcrum of high-brow Classicism and low-brow Brett Easton Ellisism. It is not for the faint. He has been the toast of the literary elite in New York, London and Paris, befriending artistic luminaries such as Salman Rushdie and Sir Ian McKellen while writing about a family where he was jealous his sister was having sex with his father as he fought off his mother’s amorous pursuit.

The fact is, Edmund White exists. His life exists. To the casual reader, they may find it disquieting that someone like his father existed in 1950’s America and that White’s work is the progeny of his intimate effort to understand his own experience.

Wikinews reporter David Shankbone understood that an interview with Edmund White, who is professor of creative writing at Princeton University, who wrote the seminal biography of Jean Genet, and who no longer can keep track of how many sex partners he has encountered, meant nothing would be off limits. Nothing was. Late in the interview they were joined by his partner Michael Caroll, who discussed White’s enduring feud with influential writer and activist Larry Kramer.

Retrieved from “https://en.wikinews.org/w/index.php?title=Edmund_White_on_writing,_incest,_life_and_Larry_Kramer&oldid=4520289”

Kent Hovind faces a 58-count federal indictment

Friday, July 21, 2006

Creationist Kent Hovind was arrested and plead not guilty in a Florida federal court to 58 charges of filing a frivolous lawsuits, false complaints, making threats against investigators and those cooperating with the investigation, and includes failing to pay $473,818 in employee-related taxes.

Last Thursday, U.S. Magistrate Judge Miles Davis heard the charges in which Kent Hovind professed not to understand why he is being prosecuted asserting “I still don’t understand what I’m being charged for and who is charging me.”

Legal and taxes issues are nothing new for Kent Hovind, who often calls himself “Dr. Dino.” He has been in legal trouble with the IRS for at least 17 years on his claims that he is employed by God, receives no income, has no expenses and owns no property.

Hovind’s attorney, Assistant Public Defender Kafahni Nkrumah, told U.S. Magistrate Judge Miles Davis that the Hovinds “did not want to enter a plea because he does not believe the United States, the Internal Revenue Service and the U.S. Attorney’s Office “have jurisdiction in this matter.”

When Davis said he would enter a plea for Hovind if he continued to refuse, Hovind said he was entering a not guilty plea “under duress.” In the exchange Davis asked Hovind “if he wrote and spoke English, this man who claims a doctorate said, ‘To some degree’.”

Jo Hovind, who is facing 44 charges stood with her husband’s hand on her shoulder and “reiterated the gist of his statements.”

U.S. District Judge Casey Rodgers will preside over the September 5th trial.

Davis made Hovind surrender his passport, guns, and will not allow him to leave the court’s juristition since they consider him a flight risk. On July 21, 2006 a missionary group in South Africa filed a petition to lift the travel restrictions. In part, Hovind claims the travel restrictions “violate the Religious Freedom Restoration Act.”

Hovind’s public defender Kafahni Nkrumah, states “Mr. Hovind contends that the conditions imposed upon him by Magistrate Davis impose a burden on the free exercise of defendant’s religion, in violation of the First Amendment of the U.S. Constitution.”

No date to hear the appeal against the travel restrictions is scheduled.

Retrieved from “https://en.wikinews.org/w/index.php?title=Kent_Hovind_faces_a_58-count_federal_indictment&oldid=566314”

Rental Application: Get Everything You Need From Your Prospective Tenant

Submitted by: Stirling G. Gardner

A rental application is not just a ritual; a rental application is a paper from which one would have the ability to render a assured selection about whether or not to lease to the applicant. This choice will be based on the tenant’s preceding rental and payment history and her present income according to her related pecuniary circumstances.

Be sure you ask the ideal questions one is lawfully permitted to ask so that you can ascertain if the potential renter is qualified to agree to your lease agreement.

There are a number of rudimentary items you have to amass on your rental application, such as: Entire legal name, present address and social security # of your potential renter yet, you must also gather his or her present income statement (pay check stub) and savings account specifics. Income examination and the duration on the potential renter has been working at their present occupation, might give you a stronger feel of the pecuniary strengths of the applicant.

TIP: A helpful guideline is to ensure they are at this time grossing 3 times the quantity of your rent on their regular paychecks.

But, if the potential renter has changed jobs often or has questionable spaces in their employment history, you may well wish to reconsider. A habitual history of moving jobs could demonstrate a reduced amount of stability with pecuniary situations, and a history of moving cities in general can raise a warning for you. But, do not skip to a final decision yet. This is where the banking data of the potential renter can prove helpful. Banking data should give you a plain overall perception of the applicant’s large picture pecuniary stability. The greater the assets, the stronger you ought to feel about their capability to afford rent should that tenant lose their job.

Other things to ponder:

What additional pecuniary responsibilities might the potential renter have? Do they owe credit card institutions, vehicle institutions, banks for undergraduate loans?

[youtube]http://www.youtube.com/watch?v=ribYwCGI-Pw[/youtube]

If they do, you ought to ponder this in your decision. Note that all of the aforementioned bills must be taken out of her income too, so how much opportunity does it allow them to pay you?

You will want to pull together specifics on the following:

Credit cards: How much does she owe all card every pay period? Are they delinquent on due dates?

Other debts and debt balances: How much money do they owe and to whom?

Do they possess any other loans?

Your purpose now is to determine a history of payments and to comprehend if there is a sufficient amount remaining to deliver your money owed with a a small amount remaining.

But how do I find this credit data?

You ought to do a background and credit check for each and every potential renter. End of discussion. No questions need be asked.

Just know that your potential renter might have superb credit and barely be creating an adequate amount to pay the money they owe you.

In order to screen your potential renter in the greatest way possible, be sure you ask the following questions:

Have you ever declared bankruptcy?

Have you ever had a home and gone through foreclosure?

Have you ever been evicted?

If anyone says yes to either of the first two questions, let them know they still may be able to rent from you, but that you may need to collect more information from them. You will let them know.

If their past history shows pecuniary instability and mountains of debt at various junctures in their life, you will want to check out their present job and do a thorough income verification procedure on them. The past doesn’t always equal the future, but you need to make pure positive that they have turned their money situation around completely.

Now, you know the ways to better protect yourself when screening an tenant’s rental application.

About the Author: Stirling Gardner consults for EZ Landlord Forms – your best online resource for a state specific

rental agreement

and free

rental application

.

Source:

isnare.com

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Rancagua, Chile Servicio Médico Legal boss, Juan Díaz, suspended on Juanita Carey case

Thursday, April 1, 2010

The Servicio Médico Legal (in Spanish, Legal Medical Service) of Rancagua, Chile boss, Juan Díaz Menares, was suspended from his job for using a public bus to transport the body of three-year-old Juanita Carey.

The decision was made by the administrative lawyer in the case, Hernán Rojas, who is heading the investigation into the irregular move of the body. Díaz defends the sending of the body via a public bus, ensuring that “the procedure was right, because it was sent as it is established”. “There’s an aberrant situation at a national level, not just this”, said Díaz; “It is always done […] we are a centralized service, we don’t rule ourselves.”

“Everything that comes out of here, biological or bony samples, as in this case, go out from the safekeeping chain”, he also said. He confirmed that he was not going to resign, as Radio Cooperativa had reported.

Last Wednesday, it was revealed that the body of the child, who died in Pichilemu after the February 27 catastrophe, stayed three nights in a storage area of bus company Pullman Cargo. A Pullman Cargo representative reported to Radio Cooperativa that the body was sent last Friday from Pichilemu to Santiago via bus, and that the container did not have any description of what it contained, beyond the word “fragile”. They also said that “it was not even paid for express mail, which would have allowed the delivery to occur on Saturday, not last Monday”.

The body of the child was cremated Wednesday, and her ashes were buried in Santiago, Chile.

Retrieved from “https://en.wikinews.org/w/index.php?title=Rancagua,_Chile_Servicio_Médico_Legal_boss,_Juan_Díaz,_suspended_on_Juanita_Carey_case&oldid=1153498”

Dozens dead after school collapses in Haiti

Friday, November 7, 2008

At least 50 people are dead, mostly children, and an unknown amount injured and trapped after a three-story school collapsed near the capital of Haiti, Port-au-Prince. So far, rescuers have rescued at least 75 people, who have been taken to a local hospital, some in serious condition. School was in session, which left dozens more trapped, and officials say the death toll is likely to climb. Five houses surrounding the school were also severely damaged or destroyed as a result of the collapse.

Reports say that the third-floor of the College La Promesse Evangelique in Pétionville, was under construction when the collapse happened, but it is not known if that was the cause. The collapse occurred at 10:00 a.m. local time.

“The whole school collapsed on the kids, and you know on the phone you can hear so many, so many children, you know, crying, crying. And saying, ‘This one is dead, that one is dead’,” said Michaele Gedeon, a worker with the Haitian Red Cross to CNN.

Gedeon also states that hundreds of people; rescue workers, bystanders, United States officials and United Nations peacekeepers along with the Red Cross were on scene sifting through the debris, using their hands and shovels, trying to find survivors.

“UN blue helmets are on the scene clearing rubble and trying to help people buried under the debris. If we can’t get rescue equipment in and out it’s going to be hard to help the people trapped in the building,” said a spokesman for the U.N. in Haiti, David Wimhurst.

At least 700 children attend the school, ranging from kindergarten to secondary grades, with the students’ ages ranging from 3 to 20-years-old.

The school is reported to have partially collapsed eight years ago, and residents living near it moved in fear that the rest of it would collapse on their homes. After the first collapse, the owner of the school attempted to buy the homes and properties surrounding the school.

Witnesses and residents fear that the school was improperly repaired after the first collapse. Police are investigating the two incidents to determine if criminal charges will be filed.

Retrieved from “https://en.wikinews.org/w/index.php?title=Dozens_dead_after_school_collapses_in_Haiti&oldid=1190375”

Asbestos controversy aboard Scientology ship Freewinds

Friday, May 16, 2008

Controversy has arisen over the reported presence of blue asbestos on the MV Freewinds, a cruise ship owned by the Church of Scientology. According to the Saint Martin newspaper The Daily Herald and the shipping news journal Lloyd’s List, the Freewinds was sealed in April and local public health officials on the Caribbean island of Curaçao where the ship is docked began an investigation into the presence of asbestos dust on the ship. Former Scientologist Lawrence Woodcraft supervised work on the ship in 1987, and attested to the presence of blue asbestos on the Freewinds in an affidavit posted to the Internet in 2001. Woodcraft, a licensed architect by profession, gave a statement to Wikinews and commented on the recent events.

According to The Daily Herald, the Freewinds was in the process of being renovated by the Curaçao Drydock Company. The article states that samples taken from paneling in the ship were sent to the Netherlands, where an analysis revealed that they “contained significant levels of blue asbestos”. An employee of the Curaçao Drydock Company told Radar Online in an April 30 article that the Freewinds has been docked and sealed, and confirmed that an article about asbestos ran in the local paper.

Lloyd’s List reported that work on the interior of the Freewinds was suspended on April 27 after health inspectors found traces of blue asbestos on the ship. According to Lloyd’s List, Frank Esser, Curaçao Drydock Company’s interim director, joined Curaçao’s head of the department of labor affairs Christiene van der Biezen along with the head of the local health department Tico Ras and two inspectors in an April 25 inspection of the ship. “We are sending someone so that they can tell us what happened, where it came from, since when it has been there,” said Panama Maritime Authority’s director of merchant marine Alfonso Castillero in a statement to Lloyd’s List.

The Church of Scientology purchased the ship, then known as the Bohème, in 1987, through an organization called Flag Ship Trust. After being renovated and refitted, it was put into service in June 1988. The ship is used by the Church of Scientology for advanced Scientology training in “Operating Thetan” levels, as well as for spiritual retreats for its members. Curaçao has been the ship’s homeport since it was purchased by the Church of Scientology.

According to his 2001 statement, Lawrence Woodcraft had been an architect in London, England since 1975, and joined Scientology’s elite “Sea Organization” (Sea Org) in 1986. He wrote that he was asked by the Sea Org to work on the Freewinds in 1987, and during his work on the ship “noticed a powdery blue fibrous substance approximately 1 ½” thick between the paint and the steel wall,” which he believed to be asbestos. He also discovered what he thought was blue asbestos in other parts of the ship, and reported his findings to Church of Scientology executives. Woodcraft discussed his experiences in a 2001 interview published online by the Lisa McPherson Trust, a now-defunct organization which was critical of the Church of Scientology.

The Freewinds regularly inspects the air quality on board and always meets or exceeds US standards.

Church of Scientology spokeswoman Karin Pouw responded to Radar Online about the asbestos reports, in an email published in an article in Radar on May 1. “The Freewinds regularly inspects the air quality on board and always meets or exceeds US standards,” said Pouw. She stated that two inspections performed in April “confirmed that the air quality is safe,” and asserted that the inspections revealed the Freewinds satisfies standards set by the United States Occupational Safety and Health Administration and the U.S. Clean Air Act.

Pouw told Radar that “The Freewinds will be completing its refit on schedule.” The Church of Scientology-affiliated organization Citizens Commission on Human Rights (CCHR) had been planning a cruise aboard the Freewinds scheduled for May 8, but according to Radar an individual who called the booking number for the cruise received a message that the cruise had been delayed due to ongoing work on the ship. Citing an article in the Netherlands Antilles newspaper Amigoe, Radar reported on May 6 that a team from the United States and supervised by an independent bureau from the Netherlands traveled to Curaçao in order to remove asbestos from the Freewinds.

…if the Church of Scientology claims to have removed the blue asbestos, I just don’t see how, it’s everywhere. You would first have to remove all the pipes, plumbing, a/c ducts, electrical wiring etc. etc. just a maze of stuff.

“I stand by everything I wrote in my 2001 affidavit,” said Lawrence Woodcraft in an exclusive statement given to Wikinews. Woodcraft went on to state: “I would also comment that if the Church of Scientology claims to have removed the blue asbestos, I just don’t see how, it’s everywhere. You would first have to remove all the pipes, plumbing, a/c ducts, electrical wiring etc. etc. just a maze of stuff. Also panelling as well, basically strip the ship back to a steel hull. Also blue asbestos is sprayed onto the outer walls and then covered in paint. It’s in every nook and cranny.”

Many Scientologist celebrities have spent time aboard the Freewinds, including Tom Cruise, Katie Holmes, John Travolta, Kelly Preston, Chick Corea, Lisa Marie Presley, Catherine Bell, Kate Ceberano, and Juliette Lewis. Now magazine reported that Tom Cruise has been urged to seek medical attention regarding potential asbestos exposure, however a representative for Cruise stated he has “absolutely no knowledge” of the recent asbestos controversy. Cruise, Holmes, Travolta and Preston have celebrated birthdays and other events on the Freewinds.

There is not now and never has been a situation of asbestos exposure on the Freewinds.

In a May 15 statement to the United Kingdom daily newspaper Metro, a representative for the Church of Scientology said that “There is not now and never has been a situation of asbestos exposure on the Freewinds.” The Asbestos and Mesothelioma Center notes that agencies have recommended anyone who has spent time on the Freewinds consult with their physician to determine if possible asbestos exposure may have affected their health.

Raw blue asbestos is the most hazardous form of asbestos, and has been banned in the United Kingdom since 1970. Blue asbestos fibers are very narrow and thus easily inhaled, and are a major cause of mesothelioma. Mesothelioma is a form of cancer which can develop in the lining of the lungs and chest cavity, the lining of the abdominal cavity, or the pericardium sac surrounding the heart. The cancer is incurable, and can manifest over 40 years after the initial exposure to asbestos.

“This is the most dangerous type of asbestos because the fibres are smaller than the white asbestos and can penetrate the lung more easily,” said toxicologist Dr. Chris Coggins in a statement published in OK! Magazine. Dr. Coggins went on to note that “Once diagnosed with mesothelioma, the victim has six months to a year to live. It gradually reduces lung function until the victim is no longer able to breathe and dies.”

Retrieved from “https://en.wikinews.org/w/index.php?title=Asbestos_controversy_aboard_Scientology_ship_Freewinds&oldid=4647051”

Shopping For Formal Dresses In Plus Sizes

By Christy Diaz

You have a big event scheduled, and you haven’t a thing to wear. Don’t despair! The selection of formal dresses in plus sizes has never been greater with the growing number of specialty retailers that cater to full-figured women. Whether you are in need of a bridesmaid gown, a prom dress, or a full wedding ensemble, you can find a bevy of choices. Before you head to your local mall, though you’ll need a few guidelines for shopping for formal dresses in plus sizes.

Many special event dresses are by special order only. This means that you’ll be measured for your dress, and the shop will place an order with the manufacturer. Generally, the retailer will ask for a deposit of up to 50 percent with the remainder due at the time you receive the dress.

While some special order, formal dresses in plus sizes can be ordered and received in less than a month, you can expect a wedding or bridesmaid gown to take up to six months for delivery. So, it is essential to plan ahead.

[youtube]http://www.youtube.com/watch?v=SJdDHyfaLoo[/youtube]

If you are short on time, there are many options for purchasing formal dresses off the rack. Boutiques that cater to plus size women and large department stores will have a bounty of different styles. You may also want to try searching online retailers, and there are many of them that specialize in plus size formal wear. If you are looking for a one of a kind gown, consider perusing the racks of vintage clothing shops or consulting with a dressmaker who can design a gown just for you.

As you sift through the different dress options, keep in mind the three “C’s” of dress selection – cut, color, and comfort. First, look for a style that is flattering to your body type. Larger figures often look good in halter style dresses.

Then, consider the appropriate color. Perhaps, you need to stick with a color scheme of the wedding or party. If you have carte blanche to pick the color you want, you may want to select a dark shade that will slenderize.

Finally, comfort is of the utmost importance, as you will probably be spending several hours in the dress. Try on gowns and dresses with the right undergarments, and see how they fit and feel. If you have to tug on straps or suck in your tummy, you probably need a different size or style.

So, go ahead and look forward to that special occasion. With a little advanced planning you can have the perfect formal look that will give you the confidence to strut your stuff.

About the Author: Chrisy Diaz is a fashion advisor for plus size women. She has been helping women of all sizes look their absolute best while helping them find fantastic deals on plus size clothing. For the hottest tips, secrets and additonal articles , not to mention some great, plus size deals visit

curvy-lady.com

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Israel pushes further into Lebanon

Thursday, August 10, 2006

Armoured columns of the Israeli Defense Forces are meeting resistance as they move deeper into Lebanon in an attempt to capture the Hezbollah stronghold of Khiam as 40,000 Israeli troops mass on the Lebanese border following an Israeli cabinet decision to widen the war. Israel took control of the strategic southern Lebanese hub of Marjayoun on Thursday as part of its northern push.

Israel ratcheted up its fight against Hezbollah, beginning operations aimed at the heart of Beirut, taking control of a largely Christian southern Lebanese town, named Marjeyoun. The Israeli military also dropped leaflets in Beirut, warning of expanded operations inside the capital and urging people in southern Shiite neighborhoods to evacuate. Those neighborhoods have been bastions of support for Hezbollah. “To the people who live in Hay El Soulom, Borj El Barajneh, Shiyah … For your safety,” one flier warned. “You must evacuate these areas immediately and evacuate any area from where Hezbollah and its members or their assistants are launching their terrorist operations. “Be aware!”

Other Israeli troops also advanced on the town of Khiam. Israeli jets also struck a lighthouse used as a cell phone communications tower in central Beirut. Witnesses said they saw a man being loaded into an ambulance at the scene. There was no immediate information on his condition. The area, located in an upscale neighborhood where slain former Lebanese Prime Minister Rafik Hariri lived, is outside the Hezbollah-dominated southern suburbs that Israeli forces have targeted up to now.

Israeli troops had warned residents to remain in their homes as forces moved toward the nearby town of Blatt, Lebanese military intelligence and police said. The secured area overlooks the Litani River, where Hezbollah fighters have reportedly launched rockets into Israel, sources said.

On Wednesday, the Israeli government approved a plan to widen the war in Lebanon in an attempt to destroy Hezbollah installations and neutralize its ability to launch rockets. The cabinet has authorized the Israeli army to advance as far north as the Litani River, 30 kilometres (18 miles) north of the Lebanese-Israeli border. However, Israel says yesterday’s push is not part of that campaign.

“It’s a small operation that looks large from where we’re looking right now, but this is not opening up any new front,” IDF spokeswoman Miri Eisen said. “It’s taking care of one that has been consistently hitting Kiryat Shmona.”

Hezbollah officials reacted angrily to the Israeli cabinet’s decision. Hezbollah leader Hassan Nasrallah appeared on Al-Manar television, and threatened to make southern Lebanon “a graveyard” for the Israelis.

“I say to the Zionists, you could come anywhere, invade, land airborne forces, enter this village or that, but I repeat, all this will cost you a high price,” he said.

The Israeli army says 15 of its soldiers were killed in combat on Wednesday, and that 40 Hezbollah fighters died the same day. Hezbollah fired more than 100 rockets into Israel, while no casualties from the Israeli side were reported.

The IDF says it currerntly has approximately 10,000 troops on the ground in southern Lebanon, a number that will swell to 50,000 in coming days.

As the fighting continues, U.S. sources said they no longer expect that a joint U.S.-French UN draft resolution calling for a ceasefire in Lebanon would reach a Security Council vote by a hoped for Thursday deadline. Disagreement over whether the resolution should call for an immediate Israeli withdrawal from Lebanon is an obstacle.

The resolution was to be co-sponsored by the United States and France, but the two countries are now at odds over how to reword the proposal in light of Arab objections to the original draft. The French have accepted a Lebanese offer to send 15,000 troops into the south to monitor the ceasefire if Israel withdraws immediately, while the U.S. wants Israel to be able to remain in southern Lebanon for a few weeks until a new multi-national force arrives.

More than 1000 Lebanese, mostly civilians, have died in the month-long conflict according to Lebanon’s government. 100 Israelis, mostly soldiers, have also been killed.

Retrieved from “https://en.wikinews.org/w/index.php?title=Israel_pushes_further_into_Lebanon&oldid=1985177”

CEO of GM outlines plan for “New GM” after auto company declared bankruptcy

Thursday, June 4, 2009

In a New York press conference at 16:15 UTC, June 1st, Fritz Henderson, the Chief Executive Officer of General Motors, which filed for bankruptcy and Chapter 11 protection from its creditors earlier today, outlined a plan for what he called a “New GM”.

Speaking to the press under safe harbor provisions of U.S. law, Henderson described the events of today as a “defining moment” in the history of General Motors. Speaking to the public he said that “The GM that let you down is history,” and described a “New GM” that he expected to result from the bankruptcy process.

Henderson stated that he envisioned the bankruptcy process would take between 60 and 90 days. He stressed several times his view that the process would be one that is executed quickly, saying that not just a sense of urgency but “pure unadulterated speed” was his expectation of the process. He emphasized that “GM remains open for business” during the bankruptcy period, continuing to sell and to support its products, and that day one motions had been filed in the bankruptcy court in order to allow this.

Regarding the bankruptcy process he said, “We will do it right. And we will do it once.”

He stated that the plan for General Motors had the support of the United Auto Workers union, the Canadian Auto Workers union, the GM VEBA, and a majority of the unsecured bondholders of GM. He also mentioned that GM had already received €1.5 million in bridge financing from the German government.

In response to questions about the possibility of the United States federal government, a majority shareholder in the restructured company, dictating future product development and strategy, such as the sale of more fuel-efficient and green vehicles; he first observed that the federal government had already stated to him that it had “no real interest in running our business” and that he expected that still to be his job. Of the specific hypothetical scenario where the management of GM wants to make one type of car, because it thinks that it is the right thing for the business, and the U.S. government wants to make another type of car, he stated that “I don’t think it’s going to happen.” Expanding on that point he stated that he expected the “New GM” to focus upon “highly fuel-efficient and green technology”, and that operating both in accordance with U.S. environmental laws and in response to customer demand would naturally result in the New GM producing the types of vehicles that the U.S. government would encourage.

The “New GM” he also expected to focus on “four core brands”, and will size its dealership to match that. He stated that GM would offer a “deferred termination” package to dealers, to allow them to cease dealing in GM vehicles in a managed and gradual way.

He stated that the bankruptcy filings did not cover General Motors’ businesses in Latin America, Europe and the Middle East, and Asia and the Pacific. Of GM’s profitable ventures in China, specifically, he stated that they were “a critical part of the New GM”. In response to questions of whether the New GM would import cars from China to the U.S., he stated the formative company’s core principle that “We build where we sell” applied in both directions, with GM building in China to sell in China and building in the U.S. to sell in the U.S., stating that this shortened supply chains.

He declined to predict when the New GM would return to profitability, stating that the goal was rather to lower the break-even EBIT point for the company. He also declined to speculate upon when the U.S. government would sell its stake in the company, saying that that was a question “better addressed to the U.S. Treasury”, and merely saying that he expected it to be “years, not months” when the U.S. Treasury felt it would give “the right return for taxpayers.”

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