And the amount of money GM pays out for full benefits to all employees, past and present, has no effect on their cash flow.
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Among the topics discussed were a $25 billion loan to fund union-controlled trust funds that would be set up in the coming year to cover the health care costs of retirees and their family members. Shifting about $100 billion of those costs from the automakers' balance sheet to the trust funds was a key concession the companies won from the UAW in the 2007 labor deals.
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Thats a lot of money. How many cars would they have to sell just to equal that amount?