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Business News Archive - May 17, 2009

CAR2GO Offers Car-Sharing Services in Urban Areas ROSH HAAYIN, Israel, May 17, /PRNewswire-FirstCall/ -- Pointer Telocation Ltd.

-- Q2 2009 sales expected to exceed average 2008 level of $5.8 million -- First quarter low level attributed to temporary impact of economic downturn -- 2009 annual performance expected to be an improvement on 2008 SHANGHAI, China, May 17 /PRNewswire-Asia-FirstCall/ -- China Energy Recovery, Inc.

Italian automaker Fiat, dismissed as an economic basket case only a few years ago, has positioned itself as a car industry powerhouse, analysts says. The company, based in Turin, Italy, faced chronic losses as recently as 2005, but new chief executive Sergio Marchionne, a one-time accountant with no auto industry experience, has engineered a turnaround, putting Fiat in position to become the third-largest automaker in the world, The Washington Post reported Sunday. Marchionne has proposed Fiat take over management of bankrupt U.S.

Announcing The Emerald Cities Project(TM) LONDON, May 17 /PRNewswire/ -- Nations Trust Ltd. (NTL) announces the launch of the Emerald Cities Project as a turnkey solution for rapid sustainable community development.

JOHN HANCOCK AND BABCOCK & BROWN INFRASTRUCTURE FUND NORTH AMERICA'S MANAGEMENT TEAM TO ACQUIRE PARTNERSHIP INTERESTS AND MANAGEMENT RIGHTS OVER THE $1.9BN UNLISTED INFRASTRUCTURE FUND FROM BABCOCK & BROWN NEW YORK, May 17 /PRNewswire/ -- The management team of Babcock & Brown Infrastructure Fund North America LP, ("BBIFNA" or the "Fund"), a San Francisco based unlisted infrastructure fund that owns and manages energy and infrastructure assets throughout North America, and John Hancock Life Insurance Company ("John Hancock"), a diversified financial services organization and an existing limited partner of the Fund, today announced the acquisition of Babcock & Brown's ("B&B") interests in the Fund as well as B&B's management rights over the Fund. Under the terms of the transaction, the management team has established a new entity, SteelRiver Infrastructure Partners LP ("SteelRiver"), to acquire the general partner of the Fund from B&B and will solely manage

Vancouver's Thompson retains the Championship points lead TOOELE, Utah, May 17 /PRNewswire/ -- Timmy Megenbier and Jake Thompson had a seesaw battle during this weekend's SCCA Pro Racing Volkswagen Jetta TDI Cup racing events at Utah's Miller Motorsports Park.

An iconic, pontoon-fender 1957 Ferrari 250 Testa Rossa (TR) sells for euro 9,020,000 to set a new auction world record as the most expensive motor car ever to be sold at auction. MARANELLO, Italy, May 17 /PRNewswire/ -- RM Auctions, in association with Sotheby's made history at the Ferrari factory in Maranello today as a 1957 Ferrari 250 TR, chassis no.

Negotiators for General Motors and the Canadian Auto Workers union met Sunday well past a deadline for an agreement on cost reductions, observers said.

Word of the Day
out-herod
  • In the phrase to out-herod Herod, to be more violent than Herod (as represented in the old mystery plays); hence, to exceed in any excess of evil.
Herod refers to 'Herod the Great,' a Roman client king and 'a madman who murdered his own family and a great many rabbis.' According to the OED, the term is 'chiefly with allusion to Shakespeare's use' in Hamlet.
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