Word: henderson
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Obama assembled all the major players - California Governor Arnold Schwarzenegger, GM CEO Fritz Henderson, Michigan Representative John Dingell - some of whom are still locked in lawsuits over California's earlier attempts to pass its own stricter fuel-efficiency standards. (Under the Clean Air Act, the state has the right to implement auto-pollution regulations that are tougher than national laws, provided that the Environmental Protection Agency issues a waiver, which was denied under George W. Bush.) For Obama, the simple fact that these habitually warring parties were willing to come together on the new requirements was as important...
...auto industry to the table. Automakers have fought long and hard against tougher fuel-economy standards, claiming such rules would raise the cost of vehicles and that consumers have shown little preference for more fuel-efficient models. But major auto executives, such as General Motors' new CEO, Fritz Henderson, are expected stand alongside Obama at the White House on Tuesday when the President makes his announcement, signaling their support. "It will establish a single national standard that will provide predictability and certainty for the auto companies in meeting regulations," said Democratic Michigan Senator Carl Levin in a statement...
...opponent batting average (.183). She is seventh on the Harvard career strikeout list, and 12th in all-time wins. Brown was joined on the first team by junior outfielder Jennifer Francis, who led the Crimson with a .311 batting average, hitting .368 against Ancient Eight competition. Sophomore outfielder Emily Henderson, who led the Ivies in stolen bases with 15, was named to the second team. Co-captain and catcher Hayley Bock, sophomore second baseman Ellen Macadam, and junior third baseman Melissa Schellberg, who is also a Crimson sports editor, all received honorable mention. —KATE LEIST
General Motors appears to be on a fast road to bankruptcy. CEO Fritz Henderson has already described a bankruptcy filing as "probable" as the Treasury's June 1 deadline for reorganizing the company draws near. Also, the fact that GM announced it was moving up its date for paying suppliers to May 28 from June 2 further suggests that bankruptcy is likely, says Brad Coulter of O'Keefe & Associates of Bloomfield Hills, Mich., which specializes in helping distressed manufacturing companies. "To me, it's a pretty clear indicator that they plan to file right around the June 1 deadline...
...bondholders complain that neither GM nor the Treasury has held any kind of serious discussion with them. In fact, CEO Henderson has described the offer to bondholders - 225 shares of GM stock for every $1,000 of bond face value - as a take-it-or-leave-it proposition...