WORLD> America
|
US auto unions make tentative deal with GM, Treasury
(Xinhua)
Updated: 2009-05-22 15:45
A UAW deal is a key piece of GM's restructuring plan and attempt to avoid a Chapter 11 bankruptcy filing. If GM, now operating with 15.4 billion US dollars in federal aid, enters bankruptcy court, deals with the UAW and other stakeholders could help the automaker emerge within a few months. The announcement comes after three days of meetings between the UAW, GM and the Treasury Department in Washington, D.C., aimed at reaching a comprehensive labor savings agreement ahead of a June 1government deadline. |