Saturday, June 9, 2007

More News on US Automakers

From a MarketWatch article:

"General Motors Corp., Ford Motor Co. and DaimlerChrysler AG's Chrysler are considering setting up an independent health-insurance fund to help them cut down on future retiree health-care obligations, said a Bloomberg report Saturday.

"Citing five unnamed people with direct knowledge of the talks, the report said the discussed plan would have the three big U.S. automakers contribute a percentage of their retiree liabilities to the fund. Those assets and investment proceeds would be used for retiree medical benefits.


"The discussed plan would follow a model set up by Goodyear Tire & Rubber Co., which agreed in December to set up a health-care trust fund with a one-time $1 billion payment in cash and stock, according to the report. After making the payment, Goodyear will have no further health-care obligation to current or future union retirees, it said."


Template Designed by Douglas Bowman - Updated to Beta by: Blogger Team
Modified for 3-Column Layout by Hoctro