Associated Press January 20, 2009
Washington -- The president of the UAW says a mid-February deadline for General Motors and Chrysler to complete their restructuring plans may be "almost unattainable."
Ron Gettelfinger told reporters Monday that many people consider the timeline for the two companies to detail their reorganization plans to be "almost unattainable" and he hopes it "wasn't set up to intentionally fail."
The Treasury Department provided $17.4 billion in loans to General Motors Corp. and Chrysler LLC last month, but the companies need to file detailed restructuring plans by Feb. 17 that include concessions from the UAW and bondholders.
Gettelfinger says there have not been any formal discussions between the union and car companies and the union has been reviewing documents.
http://www.freep.com/article/20090120/BUSINESS01/901200386/1014/Gettelfinger ++Makeover+deadline+is+unrealistic
This email was cleaned by emailStripper, available for free from http://www.papercut.biz/emailStripper.htm