Word: cashes
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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...
...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...
Under term loan agreements that GM and Chrysler signed with the U.S. Treasury in December, the UAW is required to accept equity instead of cash as payments into the health-care trust. But only last month, Gettelfinger said he was reluctant to accept any equity because it could jeopardize the health-care benefits of retirees. Gettelfinger also noted at the time that the UAW had not signed any commitment to a new VEBA funding scheme as part of the government loan deal...
...governments around the world roll out trillions of dollars in stimulus spending to combat the global recession, debate is raging over whether the flood of money will provide much more than a short-term economic boost and whether much of the cash will ultimately be wasted. Vietnam, which like most Asian countries is being hammered by the downturn, is discovering that even the most direct form of stimulus spending - cash giveaways to citizens - can wind up in the wrong hands...
...further back. "These older vintages should be out of the woods, but they're not," says Jadlos. That's partly because dropping property values have driven homes, on average, down to what they cost four years ago. Add in all those home equity loans people used to free up cash, and you're left with a situation where more than 18% of homeowners now owe more than their house is worth, according to First American CoreLogic. When the crappy economy causes your household income to take a hit, good luck trying to refinance or sell...