50 replies to this topic

[tryphon]

Would you like to try and run a company after all the workers both active and retired have been stripped of their retirement medical benefits?

If VEBA signed an agreement, they should stick to it. Period.

[lvelleq (o)llllll(o)]

If VEBA signed an agreement, they should stick to it. Period.

They did. They are. See post #35.

[tryphon]

They did. They are. See post #35.

You are making New Chrysler liable for a contractual breech made by Old Chrysler....

One of us is not listening....

[Longtimejeep]

Don't bother Larry. He's right about one thing though, someone's "not listening".

[jazz77]

You are making New Chrysler liable for a contractual breech made by Old Chrysler....

One of us is not listening....

 

I might be wrong but my understanding is that VEBA has a participation in Chrysler since the old Chrysler went bankrupt leaving unpaid debts to retired workers .

 

A formula was stated in the agreement with Fiat to compute the price of its shares in case Fiat would exercise its right to buy these shares.

 

There's a dispute on the interpretation of the formula, VEBA has the right to reject Fiat's interpretation and Fiat has the right to ask a court to force VEBA to accept its interpretation (in case Fiat's right of course).

Edited by jazz77, January 12, 2013 at 11:54 am.

[DaveAdmin]

Actually, it was the bankruptcy judge who determined that bankruptcy did not eliminate the VEBA's interest in the assets of Chrysler as acquired by Fiat. Just like the shareholders in the old GM apparently got a tiny little bit of the new GM. Or, if you declare bankruptcy as a person, you still have to pay off your student loans (if I understand the law as rewritten maybe ten years ago). 

[tryphon]

I might be wrong but my understanding is that VEBA has a participation in Chrysler since the old Chrysler went bankrupt leaving unpaid debts to retired workers .

 

A formula was stated in the agreement with Fiat to compute the price of its shares in case Fiat would exercise its right to buy these shares.

 

There's a dispute on the interpretation of the formula, VEBA has the right to reject Fiat's interpretation and Fiat has the right to ask a court to force VEBA to accept its interpretation (in case Fiat's right of course).

We are in agreement on this. It's up to a judge to decide who is right.

Don't bother Larry. He's right about one thing though, someone's "not listening".

Constructive comment.....

[Longtimejeep]

If you noticed, I used your words in quotations. If you feel those words aren't "constructive"....

[tryphon]

If you noticed, I used your words in quotations. If you feel those words aren't "constructive"....

"Don't bother Larry. He's right about one thing though...." this is the comment in that message. 

Peace!

 

[DaveAdmin]

Is it perhaps time to lock this thread? Everything useful that can be said, has been said. All that's left now is opinion.

[Longtimejeep]

Peace.