[kcvl]

Restructuring debt

The major sticking point continues to be restructuring the companies' debt. The loan terms call on GM to try to shed two-thirds of its unsecured debt and to get the UAW to accept half of the money owed the union for its retiree health care trust in stock rather than cash.

[April Lexington]

Wow. That’s going to be a hard sell to the UAW. They would be better off taking the toxic assets off the bank's balance sheets! HEY! Geithner! I have an idea!!!! Call me!

[taildragger]

The Ford UAW members accepted it. They know they are closer to a turnaround that GM ever will be. My guess is Gm’s Union is more Militant/Socialist. Yes it will be a hard sell for them to take the stock.