UAW reportedly agrees to 17.5% stake in GM
In addition, the agreement calls for GM to put $10 billion in assets in the UAW's Voluntary Employee Beneficiary Association (VEBA) and to issue the union a $2.5 billion note to be payed in three installations in 2013, 2015, and 2017. With less than one week to go before a likely Chapter 11 bankruptcy, GM remains in survival mode.
[Source: Automotive News - Sub. Req.]
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