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To: tejek who wrote (171016)	12/13/2008 2:39:27 AM
From: XoFruitCake	Read Replies (1) \| Respond to of 306849

" believe they agreed to the provision in 2007. I don't think Obama was president then." yes,I think the agreement was Sept 07 or so. At the time Hillary was the Dem front runner and she has her health care plan as well. So UAW is casting the bet on Hillary rather than Obama. Also another interesting aspect of the VEBA agreement is that once the money get transferred to UAW, it belong to UAW. If big 3 bk after the money transfer, the money is still in UAW pocket. If they don't have the VEBA agreement, health care benefit would have been cancelled in BK court. We can be the judge and see if who get the better bargain out of the deal. By the way transplant does not have to deal with this issue and incur the same level of expense for health care.. Wonder why big 3 is not competitive. Some payment already made to Veba this year... financialweek.com The $30 billion that GM is providing to the trust will be supplemented by cost-of-living adjustments and a 2008 wage increase for active workers that are to be diverted into the VEBA. GM has also committed to ponying up as much as another $1.6 billion of “backstop” payments if the VEBA threatens to run short of funds. And while GM will fund the VEBA at the start of 2008, it will continue paying for retiree health care through the end of 2009, at an estimated cost of $5.4 billion, giving the vehicle a couple of years to earn returns on the GM funding.