Way back when the UAW negotiated with the Big Three in 2007, the union agreed to set up Voluntary Employee Beneficiary Associations (VEBA) to handle health care liabilities. It was a logical gamble pressed on the union by very difficult economic circumstances–which have only gotten tougher. And now the VEBA is at risk–or at […]
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Jonathan Tasini's Ruminations on Work, The Economy, and PoliticsTag Archive | "VEBA"
Post UAW-GM Deal
Posted on 27 September 2007.
Some random things. A number of people kept asking me, "so, what is a VEBA beyond the basic name?" Here’s an excerpt from today’s Wall Street Journal–interesting note that VEBAs are not that rare at large companies: A. VEBAs are similar to pension funds. They have assets intended to pay for retiree health care, […]
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It’s Over
Posted on 26 September 2007.
I’m not surprised that the strike against GM was a relatively short one. We’ll see what the details are as they emerge over the next few days. Obviously, the key was the establishment of the Voluntary Employee Benefit Association, or VEBA. Here’s what The Wall Street Journal has to say this morning: Mr. Gettelfinger […]
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It’s On…UAW Strikes
Posted on 25 September 2007.
It’s happening. From The New York Times: Members of the United Automobile Workers union walked off the job today at General Motors plants across the country after union leaders and company officials failed to reach an agreement in contentious talks on a new contract. It is the first national strike by the union against […]
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Strike Brewing
Posted on 25 September 2007.
Well, it’s less than half an hour to go to see if there is a strike at GM. If you’re asking if I know whether it will happen, got me. I think a deal will happen but it could easily come quickly or come after a fairly tough strike. It’s that up-in-the-air. People were […]
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Health Care Fund Off The Table–For Now
Posted on 20 September 2007.
I’ll tell ya, I wouldn’t want to be the negotiator for those negotiations between the UAW and GM. According to the mainstream media reports coming out today, the idea of a volunteer employee benefits association (VEBA) is now off the table. The Wall Street Journal reports: UAW President Ron Gettelfinger has for now ended […]
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The Future for Auto Workers
Posted on 11 September 2007.
Tense times in auto worker land. Something will happen in the coming weeks that will reshape the lives of autoworkers and the UAW. But, it’s the longer term future that is perilous. Right now, the negotiations between the UAW and the auto companies are focused mainly on health care costs. As we’ve discussed […]
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