On Sep 27, 2007, at 12:47 PM, Eric wrote:
> This, I think, is the single most horrible thing about this deal. Not
> only did the UAW abandon any sort of class solidarity by caving on
> the health care issue -- thus helping to ensure that 50 million
> people stay uninsured and more underinsured -- but by insisting on a
> self-managed fund, GM got the union to start thinking like a
> portfolio manager. So now the union's primary metric for success will
> be GM's stock price. Lovely.
Yeah, this is looking like a Very Bad Thing. An article in today's FT points out that this removes GM as a potential ally in any kind of health care reform, too. And the union did nothing to advance the interests of the working class. I bet the strategy is to underfund the VEBA and force the union to take the heat for cutting benefits. Are they too dumb to see this?
Doug