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The case arose from the high-profile bankruptcy of Chrysler, in which the U.S. Treasury orchestrated a sale under Section 363 of the Bankruptcy Code to avoid the debtors' having to fully compensate a group of first lien priority creditors, which included roughly 100,000 retired teachers and police officers from Indiana. The United Auto Workers ...
The United Auto Workers (UAW), fully named International Union, United Automobile, Aerospace and Agricultural Implement Workers of America, is an American labor union that represents workers in the United States (including Puerto Rico) and southern Ontario, Canada.
On Sunday, May 31, 2009, bankruptcy judge Arthur J. Gonzalez approved a proposed government restructuring plan and sale of Chrysler's assets. The sale allows most of the assets of Chrysler to be purchased by a new entity in which Fiat would own 20%, and the autoworker's union retirement health care trust (voluntary benefit association "VEBA") 55%, with the U.S. and Canadian government as ...
The United Auto Workers union is seeking big raises and better benefits from General Motors, Ford and Stellantis. ... It could also make the union’s $825 million strike fund last much longer ...
Days ahead of a potential strike, the United Auto Workers’ standoff with the “Big Three” U.S. automakers—GM, Ford and Stellantis—revolves heavily around pay.
Republicans had held the Indiana State Treasurer's office since 1979. [10] During his term, Mourdock had invested $43 million of state pension funds and other state funds in Chrysler junk bonds. [11] [12] This move by Mourdock lost Indiana a large amount of money due to the restructuring of Chrysler during the company's bankruptcy.
The United Auto Workers union is seeking big raises and better ... the restoration of traditional defined-benefit pensions for new hires who now receive only 401(k)-style retirement plans; and a ...
United Auto Workers union President Shawn Fain told members that all three automakers have now offered record contracts but that the union will continue its strike in a push for even better deals.