Ford pays down debt, including to worker's health trust

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Oct 28 2010

The Associated Press: Ford is paying off debt by the billions - $2 billion in the third quarter and as much as $3.6 billion by Friday. "Ford is about to pay off its debt to the United Auto Workers health care trust. The UAW agreed to the trust in 2007, and it began paying health care benefits for 195,000 Ford retirees and spouses in January. Chrysler still owes $3.9 billion to the trust, while GM owes $2.5 billion, plus shares in both their companies once they go public" (Durbin and Krisher, 10/26).

This article was reprinted from kaiserhealthnews.org with permission from the Henry J. Kaiser Family Foundation. Kaiser Health News, an editorially independent news service, is a program of the Kaiser Family Foundation, a nonpartisan health care policy research organization unaffiliated with Kaiser Permanente.

Posted in: Healthcare News

Tags: Health Care, Research

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Comments

There Goes Our Lives

Carl H. Werner says:

October 28, 2010 at 4:14 PM

Well, it won't be long and We retires will be at the total mercy of the UAW. Now that's scary to me and many others', especially in Ohio. We're not that popular with the UAW International anyway. Michigan always gets 1st. billing to them. I'll say one thing, the Big 3 were super smart for doing what they did with the Health Care and if I was in charge, I would have done the same thing.

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