Veba for UAW takes hit

The following is from Charlie's blog and deals with the injustice that some UAW folks will face:


http://www.charlieaverill.blogspot.com/

Tuesday, June 16, 2009
U.S. Treasury Department Screws GM Retirees and Actives


U.S. Treasury Department treats USW/IUE-CWA/IAM/ and
Teamster retirees differently then UAW retirees. General
Motors and the UAW agreed to fund current and future retiree
health care through a Voluntary Employee Benefit Association
Trust (VEBA) fund. As part of the bankruptcy process the
Trust was partially funded with cash and the balance through
GM stock of the new company.

General Motors agreed in principal to fund a VEBA for the
other unions that represent workers in their facilities but
the Treasury Department intervened and halted the process.
This intervention prevents about 50,000 current and future
retirees from receiving health care coverage they were
promised by General Motors. Rather than receiving the
benefits they deserve the workers represented by these other
unions are thrown into the bankruptcy process as unsecured
creditors. This essentially wipes out any chance of these
current and future retirees of ever receiving health care
benefits from General Motors.

The unions referenced above are fighting this injustice. We
need your help!

please contact your elected representatives and demand that
all GM current and future retirees be treated the same as
the UAW retirees.
Posted by Charlie Averill at 10:09 AM

--------------------------------------------------------