Word: trusted
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...world's largest automaker is desperately trying to hammer out a new contract that would shift the burden to the United Auto Workers (UAW), the union that represents 73,000 of GM's employees and nearly 270,000 retirees. The company wants to fund a health-care trust, administered by the UAW, to pay for retirees' medical needs. The union's old contract expired Sept. 14, and the creation of that trust has emerged as the principal stumbling block to a new one. An eventual deal looks likely; the two sides are haggling furiously over exactly how much GM will...
...trust that GM has in mind, called a voluntary employees' beneficiary association (VEBA) according to the 1928 tax law that governs such trusts, would create an independent body, run by the UAW, with the sole responsibility of paying for the health care of GM's retirees and their spouses. It won't come cheap. Analysts estimate that GM could end up paying 60 to 70 cents on the dollar of its $50 billion obligation to establish the trust. But investors have been pushing for a VEBA since Goodyear set up a similar plan with the United Steelworkers last year. Wall...
...issue," says a Chrysler official. The companies can use the freed-up cash to spend on developing and selling better cars to take on Toyota, which this year surpassed GM in sales. But that's in the long run. In the short run, funding the trust could put carmakers in a tighter cash squeeze unless they raise the money by floating stock or issuing debt. "It's not the best time to go out and raise money," says GM CEO Rick Wagoner...
...which has maintained an iron grip for 45 years, tried to extinguish the protest movement by arresting dozens of pro-democracy activists. But clapping handcuffs on Buddhist monks is a far more difficult proposition in this deeply devout nation. "The monks are the only ones who really have the trust of the people," says Khin Omar, an exiled dissident now living in Thailand. "When they speak up, people listen...
Peskov walked us through Zubkov's qualifications - primarily having created a successful federal money-laundering investigations unit. "He proved to be an effective manager," said Peskov. But "why him personally? That's a question for Putin. He's the President. He enjoys the trust of the people. This is his right to choose this or that person."But a few minutes later, Peskov seemed to suggest that Zubkov might not be Putin's choice to run for President. "It has to be a well-known figure, because of course Putin will share his popularity," he said. "If you share your...