Word: musts
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...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 since bondholders expect to fare better in bankruptcy. Some bondholders are said to have positioned themselves for a bankruptcy...
...remaining party to any GM or Chrysler accord that averts bankruptcy will be the bondholders, who must agree on a reduction in the amounts owed. At Chrysler, bondholders made concessions on Friday, reducing Chrysler's $6.9 billion of outstanding debt for the second time. The bondholders had earlier agreed to accept $4.5 billion; on Friday they reduced the amount further, to $3.75 billion. A final deal with creditors much be reached by May 1. Among Chrysler's biggest bondholders are JP Morgan Chase, Citigroup, Goldman Sachs and Morgan Stanley. Even if Chrysler reaches a deal with its major creditors...
...With the biggest races of its season rapidly approaching, Harvard must move forward quickly. The Crimson will have a week’s respite to prepare for the EARC Sprints May 10 in Worcester, Mass., which will be followed by the IRA National Championships in early June...
From time to time, every team must admit the cliché, but inevitable mantra: “There’s always next season...
...ROTC, just as it would refuse to recognize any other organization on campus that denied membership to open homosexuals. This policy is not only in line with the standards set forth in the student handbook, but it also matches with the philosophy of openness and inclusion that the University must preserve...