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UAW Health Care Trust May Own 17.5% of General Motors
The Wall Street Journal 
May 29, 2009 Excerpt: Under the deal struck by GM and the United Auto Workers, 17.5% of the company's shares will be owned by a union health-care trust, with an option for up to 20% over time, WSJ reports. That's down from an earlier offer of 39%. The independent trust was created as part of the UAW's contract with GM in 2007. The company puts health-care money into the trust, taking retiree health obligations off of its balance sheet while giving the union the ability to manage the health benefits. MORE >> |
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