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GM » Topics » The funding of the New VEBA will require the contribution of significant assets in a relatively short period, including funding requirements for a temporary account before obtaining court and regulatory approval.This excerpt taken from the GM 10-Q filed Nov 8, 2007. The
funding of the New VEBA will require the contribution of
significant assets in a relatively short period, including
funding requirements for a temporary account before obtaining
court and regulatory approval.
Even before the Retiree MOU receives court approval, we will
begin funding an account that is intended to provide funding to
the New VEBA, and if and when the Retiree MOU is approved we
will be required to contribute a large amount of assets in a
relatively short period. There can be no assurance that we will
be able to obtain all of the necessary funding or that the terms
of such funding will be acceptable. If we are unable to obtain
funding on terms that are consistent with our business plans, we
may have to delay or reduce other planned expenditures.
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