Judge OKs GM-UAW deal to create retiree healthcare trust
AP/Yahoo News, March 5, 2008
A federal judge on has granted preliminary approval to a settlement between General Motors Corp. and the United Auto Workers that would set up a trust to fund the automaker's retiree healthcare. GM and the UAW agreed to form the trust as part of contract negotiations, but need court approval for it to take effect. The UAW and attorneys representing several retirees sued GM in an effort to get court approval for the change. If they win the approval, the trust would take on $46.7 billion in healthcare costs starting as early as Jan. 1, 2010.
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