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Ford & UAW Reach Deal on Retiree Health

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United Auto Workers- UAW - reached a tentative agreement with Ford Motor Company for a four-year contract similar to General Motors and Chrysler. Central to the deal is the creation of a voluntary employees' beneficiary association - VEBA. Ford will transfer billions of dollars in retiree health care liabilities to a trust controlled by the UAW. The VEBA is expected to become operational in 2010. Until then, Ford will continue to fund its retiree health care.

The UAW will also get a 16% to 17% stake in Ford.

About this Entry

This page contains a single entry by Phil Daigle published on November 6, 2007 3:01 PM.

Popular Infant Cough and Cold Medicines Pulled from Market was the previous entry in this blog.

True But Misleading Statements about American Health Care is the next entry in this blog.

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