Show Me the Money!
Saturday, April 15, 2006
Detroit Free Press
AUTOS: GM to spend $3 billion on health fund
April 14, 2006
"General Motors Corp., the world's largest private provider of health care, will report a first-quarter expense of as much as $3 billion to create a fund to pay future retiree health care costs.
The fund requires the company to set aside $1 billion annually in 2006, 2007 and 2011 to offset increased health care costs to retired workers, a federal regulatory filing Thursday shows. It is part of an agreement to get a pretax savings of about $3 billion a year in health care costs from union workers.
The October agreement requires more than 475,000 union retirees and their dependents to pay part of their health insurance premiums for the first time. The payment will be as much as $752 per family each year. The charges would be higher without the retirement health care fund."
Where does it go? Tell us Rick, we want to know.
What is a VEBA and why do we need it?
Ask who manages this fund? Who controls the money? How much do they charge for administration? Rumor is Solidarity House collects 20%. If true, and they receive $200,000,000, is there any surprise they are called the Concession Caucus? Shocked that membership is down by half? Who needs dues paying members? Investigate "Quality of Worklife", see where supposed "training" money went. Why did the International deny Whitey Hale the money requested properly from the funds to keep jobs on Coldwater Rd in Flint? Drive down Warren in Detroit and see the "CHR Taj Mahal" built by the "selling out" of the rank and file.
Why does this fund need to exist? Ask why negotiations are so secret and then slammed at the members? Conspiracy? Remember Reuther warned of leadership once it gained a level of income beyond that of dues paying members. Strike? Only if called by Soldiers of Solidarity. The local leaders are too busy in Las Vegas. Remember also, what happens in Vegas, stays in Vegas.
ref: "Death of the Constitutional UAW" by William Hanline available at:
See you in Toledo on the 23rd my brothers.