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GM: Some parts of Chrysler deal could help GM
(Agencies)
Updated: 2009-05-06 12:38
WASHINGTON -- General Motors CEO Fritz Henderson says some elements of a labor agreement between the United Auto Workers and Chrysler could benefit GM as it tries to stave off bankruptcy.
The Chrysler labor deal calls for the UAW to take a 55 percent stake in a new Chrysler in exchange for US$6 billion of the $10.6 billion the company must pay into a union-run trust that will take over retiree health care expenses starting next year. The union's stake in GM is expected to be just under 40 percent.
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