GM Shares Reverse Declines After UAW Claim of “Massive” Gov’t Fnancing

GM Shares Reverse Declines After UAW Claim of "Massive" Gov’t Fnancing

 

Shares of General Motors (

 

 

NYSE:GM), which hit a low of $1.12 this morning (down 22% vs. Friday’s close), have reversed their decline and are now trading nearly 2.8% higher to $1.47 after the Wall Street Journal reported that the United Auto Workers (UAW) union said that the U.S. Government will provide "massive" financing assistance to help GM restructure without liquidation. The reports came shortly after the WSJ reported that GM had made an offer to the UAW healthcare trust (VEBA) for up to 17.5% of the company in addition to notes, preferred tock and warrants. The WSJ also is reporting that the UAW will have the right to name one member to GM’s Board of Directors.

 

 

 

 

 

 

 

 

 

 

Share
Seniority Lists
Recent Posts!
Bargaining Committee

Chairman
Mike Herron
President
Tim Stannard
Zone at Large – 1st
Danny Taylor
Zone at Large – 2nd
Mark Wilkerson
Committeepersons
Joe McClure
Chad Poynor
Steve Roberts
Derek Lewis
Bill Cundiff
Kirk Zebbs
Don Numinen
Jay Minella
Danny Bragg
Chris Hill
Rashad Thomas
Keith Oswald
Chris Brown

1853 Officers

President
Tim Stannard
Chairman
Mike Herron
Vice President
Darrell DeJean
Financial Secretary
Mark Wunderlin
Recording Secretary
Peggy Mullins
Trustee (3)
Jay Lowe
Dave Clements
Dave Spare
Sgt. at Arms
David C Spare
Guide
Ashley Holloway
E-Board at Large (2)
David Ryder
Steve Roberts
GM Unit Chair
Mike Herron
Leadec Unit Chair
Larry Poole
Ryder Unit Chair
Patrick Linck
AFV Unit Chair
Neil Osborne
Retiree Chair
Mike Martinez

Get Text Alerts



asdasdsd

*Standard text messaging rates may apply from your carrier