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bankruptcy, united auto workers
(Image from article: "In First Report After Bankruptcy, G.M. Posts Loss")

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In First Report After Bankruptcy, G.M. Posts Loss

In First Report After Bankruptcy, G.M. Posts Loss

G.M. said Wednesday that it had positive cash flow of $1 billion in the six months after it emerged from bankruptcy protection last July, but that it lost $4.3 billion in that period, mostly because of the cost of settling with the United Auto Workers union over retiree health benefits, one of the burdens that helped bring the company to its knees.

 

U.A.W. and Ford Reach Tentative Deal on Concessions

If union members accept the deal, Ford will gain some of the benefits that General Motors and Chrysler needed bankruptcy reorganization to achieve.

 

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