Word: fritzes
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Over at General Motors, CEO Fritz Henderson on Monday outlined a tough deal for bondholders as well, as the automaker scrambled to reduce its debt. The prospects for that deal are better than Chrysler's, but they are far from guaranteed...
...exchange 225 common shares for each $1,000 of principal amount of bonds. The offer covers $27.5 billion of bonds, and based on the recent price of GM stock would result in bondholders receiving less than 40% of a bond's original face value. GM's chief executive Fritz Henderson described the terms of the offer as "stern." For the swap to take place 90% of the bondholders must accept the offer. If that percentage is not met, GM will file bankruptcy. Many Wall Streeters believe the prospects for such a major swap of GM stock for debt are dubious...
...40—High snap from Scott Fritz causes big loss, sets up 3rd and 28 situation for White squad...
Prosecutors say the three Germans, Fritz Martin Gelowicz, 29, Daniel Martin Schneider, 23, and Atilla Selek, 24, and the one Turkish national, Adem Yilmaz, 30, were planning a series of car bombings in Germany that could have been deadlier than the attacks in London and Madrid. And according to prosecutors, the men had specific targets in mind: U.S. military bases including Ramstein, and Germany's biggest airport in Frankfurt, as well as discos, pubs and restaurants. So far, the suspects have remained silent, so their answer to these charges is not yet known. (See pictures of a Jihadist's journey...
...According to the Wall Street Journal, Rattner was the Administration official who told GM CEO Rick Wagoner that he would have to step down, then informing Wagoner's replacement, Frederick "Fritz" Henderson, that GM's top job was now his. (See the 50 Worst Cars of All Time...