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Tag Archives: uaw veba
Fiat Buys Out the UAW Equity in Chrysler Group
Fiat S.p.A. through its wholly owned subsidiary, Fiat North America, today completed its previously announced acquisition of all of the UAW VEBA Trust’s equity in the Chrysler Group. This means that Chrysler Group is now a wholly owned subsidiary of Italian Fiat with considerable help from U.S. taxpayers who financed the 2009 reorganization of the bankrupt company. Continue reading
Posted in financial results
Tagged autoinformed, autoinformed.com, fiat Chrysler, Ken Zino, uaw veba
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GM Prices $4.5 Billion of Bonds to Buy Back VEBA Stock
General Motors Company announced today the pricing of three series of bonds that it will sell and use the $4.5 billion in proceeds to buy back stock from the UAW Retiree Medical Benefits Trust. Continue reading
Posted in financial results
Tagged autoinformed, autoinformed.com, government motors, Ken Zino, uaw veba
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GM to Buy Back UAW Held Stock. Dividends to Follow?
The VEBA currently holds 260 million shares of Preferred Stock, and Canada GEN Investment Corporation holds another 16 million shares. Until the ownership of these shares transfer back to GM or other independent buyers, the slur “Government Motors” still applies since the shares where part of a controversial but effective bankruptcy reorganization that Canadian and U.S.> taxpayers subsidized in 2009. Continue reading
Posted in financial results
Tagged autoinformed, autoinformed.com, GM, Ken Zino, uaw veba
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GM UAW VEBA Warrants at $3.85 allow $42.31 Share Buy
The UAW Retiree Medical Benefits Trust (UAW VEBA) secondary public offering of up to 45,454,545 warrants to purchase GM common stock was priced at $3.85. They allow the purchase of one share at $42.31. The warrants expire 31 December 2015. Continue reading
Posted in auto news, financial results
Tagged autoinformed, autoinformed.com, gm stock, Ken Zino, uaw veba, veba warrants
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Chrysler Group Q1 Profits Drop to $166 million
Chrysler Group today reported its 2013 Q1 results of $166 million in profits on revenue of $15.4 billion, off 6% from $16.4 billion one year ago. Continue reading
Posted in financial results
Tagged autoinformed, autoinformed.com, chrysler group, Fiat, fiat group, Ken Zino, uaw veba
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