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GM Bankruptcy Plan Would Use Stock Worth 39% of Firm To Fund Half of VEBA Obligation
The Washington Post; subscription may be required May 22, 2009
Excerpt: The United Auto Workers retiree health fund is set to own as much as 39 percent of the restructured GM, in exchange for giving up its claim to at least $10 billion that the company owes it. Yesterday, the union announced that it reached an agreement with GM that will reduce the company's labor costs.
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