Word: agreements
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...United Auto Workers (UAW) took a major step toward fulfilling the terms of the federal loans doled out to automakers this winter. The union said Monday that it has reached a tentative agreement with Ford to accept some equity instead of cash to finance the special trust for retiree health care, known as the Voluntary Employees Beneficiary Association, or VEBA. (Read "UAW agrees to Concessions With Automakers...
...agreement with Ford does not automatically resolve the ongoing negotiations that labor is having with the managements of GM and Chrysler, but it does establish a prototype that could be used, and it signals the UAW's new willingness to compromise on this issue. "The modifications will protect jobs for UAW members by ensuring the long-term viability of the company," said UAW President Ron Gettelfinger...
...Hinrichs, group vice president of Global Manufacturing and Labor Affairs at Ford Motor Company, said the tentative agreement gives Ford "the option" of using Ford common stock for up to 50% of the payments into the VEBA in lieu of cash. "We will consider each payment when it is due and use our discretion in determining whether cash or stock makes sense at the time, balancing our liquidity needs and preserving shareholder value," Hinrichs said...
...says, "and because it is an equal-opportunity challenge, it's not just Democrats or Republicans that suffer, it's all of us. I believe that President Obama and the Democrats will work with us because the stakes are just that high." He also emphasizes the large areas of agreement between Dems and Republicans on upcoming legislation, such as the need for an austere budget (though Cantor opposes letting President Bush's tax cuts to the wealthiest Americans lapse, as Obama intends); the expansion of employer-provided health-care insurance rather than single-payer government health care; and a commitment...
...ravaged, first by chronic food shortages, hyperinflation and political turmoil, and then by a cholera epidemic that continues unabated. Although Mugabe still locks up political opponents, most recently a deputy minister slated to be sworn into the new unity government, his rule has been weakened by a power-sharing agreement with an emboldened and entrenched opposition. His position is as insecure as it has ever been, and, if press reports this month are to believed, he and his confidantes are looking to Asia and to property at JC Castle - named for the action star Jackie Chan by the real estate...