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Ron Gettelfinger, the president of the United Auto Workers union, got his members to accept two-tier wages and big concessions on the health-care and retirement plans.
WSJ: The Auto Makers Are Already Bankrupt
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The union's leader, Ron Gettelfinger, said that payments of billions of dollars into health-care funds for retired workers, due to be made by 2010, could be delayed.
ECONOMIST: America's carmakers
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Ron Gettelfinger, the head of UAW, says the VEBA being proposed under this new contract will secure the health care benefits of General Motors retirees for 80 years.
NPR: Retired UAW Members Analyze New GM Plan