The United Auto Workers union could become General Motors’ biggest shareholder under a deal to transfer the carmaker’s healthcare obligations to a huge union-managed trust.
The two sides agreed last week to set up the Voluntary Employees’ Beneficiary Association as part of a four-year labour contract. GM’s $29.9bn contribution to the Veba will include a $4.4bn note convertible into GM shares. GM’s market value of almost $21bn plus that of the bond, if converted at par, would give UAW a stake of about 17 per cent.
Here is the story, had I mentioned that the strike is over? Here is my previous post on strikes and the Coase Theorem.
So is this the start of the mutual or co-op car manufacturing business?
Isaac Crawford
Blogging in Yemen
http://www.isaharr.com
I hope that the UAW thinks about diversification issues in their portfolio.
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i searching for ç¿»è¯ç¤¾ to trans a word- 離婚,who can help me
Thanks.
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