VEBA not resolved in tentative UAW deals

Although the UAW said that it has reached tentative deals with each of the Detroit Three to modify its 2007 labor contract, the union acknowledged that it does not include an agreement on how to fund a critical healthcare trust—commonly called a VEBA. UAW President Ron Gettelfinger said in a statement that "the UAW is withholding the terms of the tentative understanding pending completion of the VEBA discussions and ratification of the agreements." In its 2007 contract talks, the UAW agreed to manage and operate the VEBA, a healthcare fund for its retirees.