Last Updated: Oct 8, 2007
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Issue no. 807
Editorial
Editorial: The Vultures of Wall Street Are Circling over the GM VEBA
Pages 2-3
Egypt: New strike of textile workers
Rights of “Indigenous People”: A formal right, a real disappearance
Burma: A dictatorship supported by the big powers
Simi Valley: Right wing attacks on immigrant sanctuary
Pages 4-5
“Ford is in worse financial shape,” NO! They make it, then they take it away
The devil in the GM contract: Sell out your children, your parents and yourselves
Caterpillar workers know all about VEBA
If GM risks bankruptcy – cover retirees with GM stock!
New Attendance Rules: GM Owns You
VEBA good for 80 years? Not even 80 months!
COLA formula maintained – but the money disappears!
Chrysler: Scheduling a vote with nobody there
Key sections of the UAW GM contract on-line
Skilled trades on a chopping block
GM Contract – A monument to worthless promises
Pages 6-7
LAX: One near miss after another
Five workers dead – the cost of pushing to increase profits
Michigan budget deal: Exactly as scripted
Page 8
CEOs “sacrifice” in a time of war
Congress can’t find money for poor children
VEBA good for 80 years? Not even 80 months!
Oct 8, 2007
The GM Highlights claim the new VEBA health insurance fund for retirees “will remain solvent for decades” and will “protect your retiree medical benefits – at current levels.” UAW President Gettelfinger actually said the fund is good for “80 years.”
Read the small print in the VEBA Memorandum of Understanding. The fund is guaranteed only until January 1, 2012. Section 17(c) reads, “The Committee (the VEBA trustees) will be required to maintain benefit levels ... until January 1, 2012.” That’s only four years and three months from now!