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Senator Beauregard Corker's amendment to the bridge loan bill requires GM to pay half of its union health funding in GM stock, rather han in cash. That might be good. GM stock is very low now, so the health plan could get huge capital gains if the stock comes back.
P.S. Poster Yeah, Walter is right. Current UAW emplyment is very low, due to buyouts, and due to the fact that all temporary emplyees are gone, and to the fact that remaining UAW employees are pretty old, close to returement.
When, if the economy, credit markets, and auto companies come back, the auto industry will be hiring a whole new workforce at $14 per hour.
