« Facts and True Facts: More on Divorce | Main | I wonder about the theology in all books »
The economics of strikes, update
The United Auto Workers union could become General Motors' biggest shareholder under a deal to transfer the carmaker’s healthcare obligations to a huge union-managed trust.
The two sides agreed last week to set up the Voluntary Employees’ Beneficiary Association as part of a four-year labour contract. GM’s $29.9bn contribution to the Veba will include a $4.4bn note convertible into GM shares. GM’s market value of almost $21bn plus that of the bond, if converted at par, would give UAW a stake of about 17 per cent.
Here is the story, had I mentioned that the strike is over? Here is my previous post on strikes and the Coase Theorem.
Posted by Tyler Cowen on October 1, 2007 at 10:21 AM in Current Affairs | Permalink
Comments
So is this the start of the mutual or co-op car manufacturing business?
Isaac Crawford
Blogging in Yemen
www.isaharr.com
Posted by: Isaac Crawford at Oct 1, 2007 10:59:05 AM
On the subject of collectivism, I would like to see more articles on bonds with collective action clauses.
Posted by: wood turtle at Oct 1, 2007 12:36:21 PM
I hope that the UAW thinks about diversification issues in their portfolio.
Posted by: Sam at Oct 1, 2007 1:46:44 PM
The UAW has been a major shareholder of GM (and Ford, and Chrysler) for decades, this just makes it explicit.
Which is probably a good thing.
Posted by: doctorpat at Oct 1, 2007 11:50:50 PM
I come from au, injoy 室內設計,now in a 搬家BIZ. i searching for 翻譯社 to trans a word- 離婚,who can help me
Thanks.
Posted by: laww at Dec 1, 2007 2:23:25 AM
who know指甲彩繪？teach me some about it
Thank.
Posted by: cai at Dec 1, 2007 2:46:27 AM
Posted by: 鑽石 at Apr 2, 2008 10:13:02 PM
