Word: auto
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Dates: during 2000-2009
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...Three automakers seek a $25 billion federal government bailout to avoid financial collapse, angst is rising among the auto behemoths' suppliers, and in the communities they support...
...ready cash reserves in place as of Sept. 30. Buried in the same voluminous report is a note indicating that GM has tucked away another $13.5 billion, in trust, to pay for health care for current and future blue-collar retirees covered by labor contracts with the United Auto Workers...
...trusts would protect the health care of retirees and eligible dependents for the next 80 years. However, that always depended on the health of the company. The promise is now suspect, says Stephen Diamond, an associate professor of law at Santa Clara University in California who has studied the auto-industry VEBAs. Last summer, the UAW allowed GM to defer a $1.7 billion payment to the trust. The company's next scheduled payment of $4 billion is due in December...
...worth saving? Yes! With gas prices stabilizing, now is the time for the auto industry to shape up, and the government to help them. Otherwise, we all sink. C. R. Prabakaran, Sterling Heights, Michigan...
...Instead of bailing out an auto company that has not been competitive or innovative in years, why not give the funds to car companies that are doing well? Congress could require that the companies invest in the U.S., but other than that, let the market decide. Instead of throwing good money down a sinkhole, let's reward businesses that are innovative and give customers what they want. That used to be called capitalism. Carlos Gonzalez-Najera, Burlington, New Jersey...