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NV Participações, an investment firm representing Varig employees, (TGV) admitted, yesterday, for the first time that they might not have by Friday, the deadline, the mandatory deposit of US$ 75 million in order to officially take over operation of the Brazil's troubled carrier, Varig.
Meanwhile, the president of the country's civil aviation agency (Agência Nacional de Aviação Civil) (ANAC), Milton Zuanazzi, says that other domestic airlines, Gol and TAM, are willing to endorse Varig tickets when Varig passengers are unable to embark because of cancelled Varig flights. He adds that other domestic carriers may be called on to also endorse Varig tickets. "Everything is being done to keep Varig flying," says Zuanazzi, "until NV Participações makes the mandatory deposit and takes over operations, putting its own contingency plan in place. "We have an emergency plan to ensure the company is able to continue operating which includes understandings with foreign carriers." TGV's coordinator, Márcio Marsillac, blamed the government and the judge's delay in approving the employees offer for his difficulties in raising the money. Talking to a group of Varig workers he said, "Nobody is 100% sure that the financial resources will be presented on Friday. If our negotiations don't pan out then we will not have the money to make the necessary deposit." The ANAC announced that Varig cancelled yesterday, June 21, 83 national flights with 3,018 passenger plus 39 international trips leaving 1,994 passengers stranded. Meanwhile, Infraero, the company in charge of managing Brazilian airports informed that the total of cancelled flights were 180, being 154 of them domestic and 26 international. Both agencies belong to the federal government. Bzz, ABr
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The small, coastal town of Condé is located just a twenty minute's drive from João Pessoa, the capital of Paraíba. The Northeast of Brazil has historically been a place of encounter and mixing between peoples. For millenia groups of indigenous people fished, farmed, migrated and sometimes fought along this large, fertile area. 
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On July 4, 2006, representatives of Argentina, Brazil, Paraguay and Uruguay met in Caracas to sign the protocol for the entrance of Venezuela into the Southern Common Market (Mercosur). After two and a half years, the protocol was approved by the legislative bodies of Argentina and Uruguay, and as of now it may be only days away from being ratified by the continent's economic megalith, Brazil. 
Some sectors of the fight against AIDS have suggested that Thabo Mbeki, the former president of South Africa, committed genocide through his absence from the fight against the illness in his country throughout his two terms. 
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The Court dithered away for a week reviewing the employee group's offer to ascertain their financial ability to complete their offer. Supposedly he reviewed their condition and determined their ability to fund their offer. How did he do this? A bank guarantee? Obviously not.
While that process dragged along, a group of foreign investors (TAP, et al) were prevented from making a serious offer. And, in the meantime, Varig's position worsens by the day and the vultures are circling - TAM, GOL, etc.
If the court had acted responsibly, what will obviously result in Varig's total collapse, the company's assets and routes could have been sold to a group and at least provided jobs, at a lower wage, to Varig's employees and not left thousands of Brasilians stranded abroad.