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Obscure Health-Benefit Scheme (VEBA) Is Central Issue in Auto/Union Talks
The Washington Post; subscription may be required 
Sept. 24, 2007
Excerpt: GM wants to deviate from the traditional setup, people close to the talks said. The company reportedly wants to put one large lump sum into a VEBA, which the union alone would control, and does not want to regularly replenish the fund. The people spoke on the condition of anonymity because the negotiations are supposed to be private. How much GM should put into the trust is contentious. According to news reports, GM appears to be offering to pay 50 to 70 percent of its liability, estimated to be around $55 billion.
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