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General Motors' (GM -1.8%) IPO has provided a big payday to the United Auto Workers union, which...

General Motors' (GM -1.8%) IPO has provided a big payday to the United Auto Workers union, which gambled that a stake in the once-bankrupt automaker would help fund the health care of its retired members. The independent trust for UAW retirees sold 89M GM shares in the IPO, yielding the fund about $2.9B.
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Comments (9)
  • losbronces
    , contributor
    Comments (792) | Send Message
     
    Very interesting. I see this as a vote of no confidence by UAW going forward.
    19 Nov 2010, 10:31 AM Reply Like
  • director
    , contributor
    Comments (56) | Send Message
     
    How many shares do they have left?
    19 Nov 2010, 10:35 AM Reply Like
  • Joe Morgan
    , contributor
    Comments (1559) | Send Message
     
    The UAW is a charlatan...it doesn't deserve the respect of Americans...
    19 Nov 2010, 10:35 AM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    It is a travesty that the UAW, which contributed mightily to the downfall of General Motors, should end up owning a significant share of Government Motors.
    19 Nov 2010, 10:36 AM Reply Like
  • apberusdisvet
    , contributor
    Comments (2952) | Send Message
     
    Just more money for the bosses to bribe Congress critters; the unfunded pension liabilities will purposely remain for the taxpayers to bail out.
    19 Nov 2010, 10:45 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    they should be forced to buy them..its their company now...they stole it
    19 Nov 2010, 11:04 AM Reply Like
  • royjet3
    , contributor
    Comments (2) | Send Message
     
    what would be the alternative? a whole bunch of broke retirerees that would be living off the gov retirement fund. i am comming up on retirement - never made much money to save - but have some - next gen will be in the same boat - no pensions - only ss - God help us
    19 Nov 2010, 11:29 AM Reply Like
  • paulseglund
    , contributor
    Comments (94) | Send Message
     
    I would like to hear from the bondholders for a complete picture.
    19 Nov 2010, 11:54 AM Reply Like
  • Duude
    , contributor
    Comments (3398) | Send Message
     
    They gambled with a stake? With all that the government has done for this once-beleaguered company, this is as much of a gamble as betting on Putin cronies ending up at the top of Gasprom and Mikhail Khodorkovsky in prison.
    19 Nov 2010, 12:42 PM Reply Like
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