statism watch

Flashback: Harper ‘not counting on’ recouping billions loaned to GM | ‘New GM’ to emerge from bankruptcy | US could own 69% of GM as bankruptcy looms

Andrew Clark, The Guardian
July 6, 2009

Judge rules that creating New GM was only way to guarantee the carmaker’s future, creditors’ group fails to block restructuring

A US judge has approved a government-funded rescue of General Motors by giving the green light for a sale of the stricken carmaker’s assets to a newly created company controlled by US taxpayers.

In an 87-page ruling released in New York late on Sunday, judge Robert Gerber overruled more than 850 objections from disgruntled shareholders, bondholders and litigants. The Obama administration will have a 61% stake, the Canadian government 12% and the United Autoworkers’ Union 17.5% in the new entity.

The decision means GM has cleared a crucial hurdle towards regaining financial stability, bolstering hopes of a swift emergence from bankruptcy. The judge said that the only alternative to a transfer of GM’s assets was a shutdown of the company through liquidation which he said would be disastrous for GM’s creditors, its employees, the suppliers who depend on GM for their own existence and the communities in which GM operates.

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Flashback: Internet speed control faces scrutiny at CRTC hearings | Bell continues throttling Internet, proposes bandwidth caps for resellers | Bell’s internet throttling illegal, Google says | Net neutrality bill hits House of Commons | Bell accused of privacy invasion

Michael Geist, Toronto Star
July 6, 2009

The Canadian Radio-television and Telecommunications Commission hosts long-awaited network management hearings this week, pitting Canada’s telecom and cable companies against a broad range of consumer, creator and technology groups in a fight that may help clarify whether Canada has – or should have – net neutrality laws.

The telecom and cable companies will likely maintain that managing their networks, which may include using “deep packet inspection” to identify subscriber activity and limiting available bandwidth for certain applications (a practice known as throttling), is essential to ensure optimal access for all subscribers.

Consumer associations, independent Internet service providers, broadcasters, creator groups and technology companies are likely to warn against network management practices that raise competition, privacy and consumer-rights concerns.

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