Unbiased Analysis of Today's Healthcare Issues
Today, G.M. and Chrysler must submit a government-mandated recovery plan to Congress. The N.Y. Times reports that G.M is trying get the United Auto Workers to agree to cutback in its employee and retiree health care benefits. “[G.M.] has to address how a company that lost more than $20 billion last year can afford $5…
An explanation for the recent General Motors-United Auto Workers deal is pretty simple: it is a transfer of risk. GM will set up a Voluntary Employee Beneficiary Association (VEBA) which will be controlled by the union. According to the Detroit Free Press (” UAW ratifies”) GM will place about $30 billion dollars in the account…