GM and UAW negotiations revolve around retiree health care trust

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This should be a pretty eventful week in the auto industry.

The terms of the federal loans set “targets” for concessions, largely from debt-holders and the United Auto Workers union, but concession talks have made little progress with just a couple of days left before the initial deadline.

Negotiations between GM and the UAW broke off Friday night but resumed Sunday, still focusing on exchanging the company’s cash payments into a union-run retiree health care trust for GM stock, according to a person briefed on the talks who didn’t want to be identified because the bargaining is private.

GM and UAW officials declined comment.

GM and Chrysler do not need to have everything nailed down for Tuesday’s progress reports, but the companies are expected to detail concessions along with plant closures, the potential elimination of brands and thousands of job cuts.

After Tuesday there will be several weeks of intense negotiations ahead of a March 31 deadline for the final versions of the plans.

  

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