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NATIONAL BRIEFING
Freddie Mac Director to Retire
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Freddie Mac said its lead director, Shaun O'Malley, plans to retire after the mortgage finance firm's annual shareholder meeting in June.
O'Malley, 72, has served on Freddie Mac's board since September 2001 and became lead director in December 2003. He served as chairman for about six months in 2003.
A new lead director will be named after the shareholder meeting.
AUTOMOTIVE
GM Avoids Strikes at 2 Plants
United Auto Workers locals at General Motors factories in Kansas and Michigan delayed threatened walkouts and negotiated with the automaker over local contract issues. Workers at the Fairfax Assembly Plant in Kansas City and a metal stamping factory in the Grand Rapids suburb of Wyoming agreed to give the company 12 hours notice if they intend to strike.
The Kansas City plant and a related stamping operation employ about 1,900 hourly workers and make the hot-selling Chevrolet Malibu. The Wyoming plant stamps metal parts and employs about 1,000 hourly workers.
Local plants negotiate their own operating agreements separately from the UAW-GM national contract, which was settled last year. The local contracts deal with issues such as overtime and work rules.
Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.
