Five Challenges Facing India’s Election Victors

Despite predictions of a close race forcing an unstable coalition government, India’s Congress Party on Saturday claimed a major victory in national elections, leaving it with enough parliamentary seats to form a government with only minimal support from other parties. Congress is expected to win 205 out of 543 seats, according to India’s Election Commission, garnering 124 million votes. So how does Prime Minister Manmohan Singh plan to use the electorate’s strong mandate for his second term in office?

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SocGen head resigns after trading scandal

The chairman of Societe Generale, the French bank whose reputation was hit by a massive trading scandal last year, said on Wednesday he would resign in the wake of repeated criticism over his performance. In a statement, Daniel Bouton said: “Like any manager, I have certainly made mistakes” while he led France’s second largest bank, “but the strategy adopted by Societe Generale has made it one of the finest banks in the euro zone.” “The repeated attacks against me personally in France for the past 15 months affect me, but most of all, they risk harming the bank and its 163,000 employees,” Bouton added, saying it was “better for me to withdraw, proud of having led a wonderful company.” Bouton was Societe Generale’s chief executive in January 2008 when the bank announced one of the world’s largest trading scandals, which caused losses of more than $7.2 billion. He resigned as CEO last May but stayed on as chairman.

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The State of the Media: Not Good

2009 State of the News Media The Pew Research Center’s Project for Excellence in Journalism The Gist: The American financial and auto industries aren’t the only ones falling apart before the nation’s eyes. “Imagine someone about to begin physical therapy following a stroke [and] suddenly contracting a debilitating secondary illness,” researchers at the Project for Excellence in Journalism write about the news media’s long-overdue embrace of the Internet in 2008, just as a global recession began wreaking havoc on the industry’s biggest advertisers

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Deal aimed at keeping San Francisco Chronicle publishing

San Francisco Chronicle has reached a tentative agreement with its largest union on contract concessions, a key step in keeping the newspaper from being sold or closed, officials announced Monday. The Chronicle told employees last month that the paper was at risk if it did not stop bleeding millions

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Denver paper latest victim of declining readership, ad revenue

After nearly 150 years in business, the Rocky Mountain News published its final edition Friday, the victim of a bad economy and the Internet generation. The final front-page headline simply says: “Goodbye, Colorado.” “It is with great sadness that we say goodbye to you today. Our time chronicling the life of Denver and Colorado, the nation and the world, is over.” The Rocky Mountain News’ owner, E.W

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