7/20/07

Detroit in mammoth legacy cost dump

The Situation: The Big Three auto makers are selling off assets as they try to build up cash for a deal with the UAW over retiree health-care liabilities. The Plan: Auto makers may try to amass enough cash to unload employee obligations to a new, union-run fund. What's Next: In talks with the UAW set to begin Friday, Detroit's auto makers hope to establish the trust, freeing them to focus on restructuring.

(wsj.com)

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