Word: aid
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Dates: during 2000-2009
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...retirees, compared with GM's army of 377,000, but the financials don't line up any better for its VEBA, which has only $1.6 billion in cash - a fact that is already raising anxiety inside the union. Chrysler is expected to get $6 billion in new federal aid as it steps out of bankruptcy court, but Chrysler/Fiat is obligated to steer just $381 million into the VEBA next year. One possible save: in a little-noted facet of the new labor contract with Fiat, the VEBA can sell its shares to the Italian automaker via a private sale...
...mojo into a language Chrysler can understand. The hope that, having poured at least $1 billion into the innovative but commercially suspect Chevy Volt plug-in, GM can pivot into less costly hybrid and high-efficiency diesel technologies. (Perversely, the Administration might hope for $4-a-gallon gasoline to aid that quest...
...case, Chrysler's case and ultimately the UAW's case. Gangly and soft-spoken, Rattner's co-chairman is passionately pro-union - an unusual trait among investment bankers. He helped guide the steelworkers' union through the collapse and restructuring of its industry, and this time he came to the aid of Chrysler's workforce. Gene Sperling, a veteran of the Clinton Administration, added his weight to Bloom's, speaking movingly of the human devastation that would follow should Chrysler collapse at such a weak moment for the overall economy...
...Knowing that Merkel is under pressure because she has made saving Opel a key campaign issue, GM could be using the threat of insolvency to pressure Berlin into providing more aid. Merkel and her political rivals, the Social Democrats, have come too far down this road to back out now, some German commentators have suggested, exposing the government to high-pressure tactics from...
...nation's general elections have raised fears that GM's European plants outside Germany, such as those in Antwerp and several Vauxhall facilities in the U.K., could become easier targets for closure. British unions are urging Prime Minister Gordon Brown to prepare an aid package for Vauxhall to give the U.K. a voice at the table, but so far London has proffered no numbers...