Word: cadillacs
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...health-insurance plan, the bigger the break you get - very few of them would look kindly on reforming the system. With that in mind, some lawmakers have proposed capping the amount of employer-sponsored health insurance that could be provided tax-free - leaving only workers with pricey, so-called Cadillac health plans worth north of $25,000 a year subject to new taxation. But even this isn't exactly guaranteed to have popular support...
...Detroit GM Comes Speeding Back After racing through bankruptcy in 40 days, a slimmed-down General Motors emerged from Chapter 11 focused on just four brands: Chevrolet, Cadillac, Buick and GMC. The Federal Government, which has committed $50 billion to the company, took a majority stake and installed a new chairman. The restructurings of GM and Chrysler were considered coups for President Obama's auto task force, whose head, Steven Rattner, said he will step down...
JULY 5 A federal judge allows GM to sell the Cadillac brand and other assets to a new company owned primarily by the U.S. government...
...charitable giving by the nation's highest earners seemed dead on arrival, while the House idea of taxing the rich directly has run into resistance from conservative Democrats known as Blue Dogs. One proposal that has gained traction in the past week is to tax pricey, so-called Cadillac health-insurance plans, either directly or by taxing the insurer who provides them. The plans given to many Wall Street and Fortune 500 executives, for example, are worth about $40,000 a year. But even if the threshold could be set at such a level that it doesn't apply...
...Detroit A Win for GM It appears Cadillac will not be going the way of the Edsel, thanks to a federal bankruptcy judge's ruling that may save General Motors. The July 5 decision will let GM sell its best assets--including the Cadillac and Chevrolet brands--to a new company of which the U.S. government will have 60% ownership. The sale, opposed by some bondholders and consumer groups, could let the storied automaker emerge from bankruptcy in less than two months...