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LATEST VIDEOS
Can We Afford Gov't Workers and Pensions?
11/04/2009|FOX Business
Manhattan Institute's Steve Malanga argues states can not afford government retiree employment pay.
Rhode Island Shutting Down to Save $$
08/25/2009|Closing Bell
Gov. Donald Carcieri on his decision to shut down the government in an effort to save millions.
Anthony Scaramucci of Skybridge Capital and Mark Modica of Main Street Bondholders Coalition on the Chrysler bankruptcy.
Big Step Toward Chrysler-Fiat Deal
05/06/2009|Money for BreakfastGettelfinger: Ford Agreement is in Place
02/24/2009|Opening BellGettelfinger: Bottom Line is Demand
02/24/2009|Opening BellPresidential Task Force on Autos
02/16/2009|Money for BreakfastLATEST STORIES
GM Expects Sale of Assets to 'New GM' by Friday
| FOXBusiness| Markets
debt and preferred stock, as well as 12% of the equity in the New GM. An independent trust that will pay for GM retiree health care will get 17.5% of the equity in New GM, with warrants to buy another 2.5%. The Obama Administration has
Story|07/09/2009
Fallen on Hard Times, Postal Service Looks to Cut Costs
| FOXBusiness| Markets
APWU has been an outspoken advocate of H.R. 22, a bill that would relieve the USPS of the obligation to fund retiree health - care benefits from its operating budget," said American Postal Workers Union President William Burrus in a statement
Story|06/15/2009
GM to File for Bankruptcy, Split Into 'Old,' 'New' Firms
| FOXBusiness| Markets
government will have the right to appoint one initial director. New GM will establish an independent trust to pay for GM retiree health care . The trust will be funded by a $2.5 billion note payable in three installments ending in 2017, and $6.5
Story|06/01/2009
GM Closer to Bankruptcy as Bondholders Reject Offer
| FOXBusiness| Markets
the US and Canada would own around 72% of GM, and would be able to appoint board seats and control GM’s retiree health - care fund. The union’s retiree health trust would hold a 17.5% to 20% stake, while bondholders could still own
Story|05/27/2009
FOXBusiness.com's Week in Review: May 18-22, 2009
| FOXBusiness| Markets
a deal on the auto maker’s restructuring. An agreement was made to cut labor costs and change the terms of retiree health - care debt. This would need to be ratified by the 54,000 UAW-represented factory workers. This is one of the key
Story|05/22/2009
GM's Henderson: 'We Need to Move Fast'
| FOXBusiness| Markets
in talks with the United Auto Workers union to see about cutting GM’s obligation to pay out $20 billion for retiree health - care funds. When asked to compare GM’s situation to goings-on at Chrysler, Henderson was quick to respond that
Story|05/11/2009
The Outlook for Ford Motor « Emac's Stock Watch
Emac's Stock Watch
However, Ford has won cost-cutting concessions from the UAW, frozen executive compensation, changed how it funds retiree health - care costs and sought more worker buyouts. Even so, the carmaker still has payments due to its health-care plan
Blog|04/07/2009
UAW Boss Backs Ford Contract Concessions
Associated Press| Markets
equity 50 percent of the payments that Ford is required to make into a union-run trust fund that will take over retiree health care expenses starting next year. In addition, the company's top two executives, Chief Executive Alan Mulally and
Story|02/25/2009
Top Ford Execs Take Pay Cuts, More Buyouts Offered
Associated Press| Markets
take as equity 50% of the payments that Ford is required to make into a union-run trust fund that will take over retiree health care expenses starting next year. The company owes the fund roughly $13.2 billion on a $23.7 billion liability
Story|02/25/2009
UAW Reaches Health Care Trust Fund Deal With Ford
Associated Press| Markets
says it has reached a tentative deal with Ford Motor Co (F) on how the company will fund a trust that will pay retiree health care expenses. The union says that a 2007 agreement with the automaker about funding for the union-run trust had been
Story|02/23/2009