Word: unionizes
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...Meanwhile, UAW president Ron Gettelfinger, who is concerned about the cash drain on the union's health-care trust, or VEBA, is eager to sell the shares as soon as possible. He may have to wait, however. The timing of the sale would be up to outside advisers, and there would be at least three - one for the U.S., one for Canada and one for the UAW - who would all have to reach consensus on a strategy for maximizing value. That most likely means a gradual release of the shares once an IPO of the new GM has occurred. After...
...union got slightly more flexibility in the stock-sale terms negotiated for the Chrysler VEBA. Those terms say the VEBA can start selling stock within six months of any Chrysler IPO, or if Fiat becomes the majority owner, or by June 30, 2012. Though the VEBA could sell its stake to Fiat in a private deal anytime, Gettelfinger has suggested he would like to see an IPO as the best way to maximize the value of the shares...
...finish line, the McAuliffe campaign has been working to make more than 1 million calls and knock on more than 85,000 doors. At the same time, in just six months McAuliffe has built the closest thing to a Democratic machine that Virginia has ever seen, benefiting from union endorsements and the help of President Bill Clinton, who has made several swings through Virginia on McAuliffe's behalf. (Read about the Virginia polls...
...Sarkozy's rightist Union for a Popular Majority (UMP) claimed first place with 27.9% of the Euro vote. The result marks the first time a sitting French President's party has won a European election since 1979. That success in avoiding the traditional midterm European protest vote was all the more significant against Sarkozy's modest 43% approval rating, as well as polls indicating the public continues to frown on how he and his government have responded to the global financial crisis. Despite all that, ruling conservatives came within four points of Sarkozy's commanding 31.1% score during the first...
...European elections are the first big test of public opinion before September's general election in Germany, and Chancellor Angela Merkel's Conservatives emerged as the clear winners. The ruling Christian Democratic Union (CDU) and its sister party in the state of Bavaria, the Christian Social Union (CSU), won about 38% of the vote. With Germany in the middle of a deep recession, the result seems to be the voters' way of telling Merkel that they trust her leadership and her handling of the economic crisis...