UAW Concessions Are Critical to GM's Survival

To avoid bankruptcy, GM needs federal moneyand a guarantee that the UAW will accept a weaker health-care plan

General Motors (GM) is in a real catch-22. The company has a credible plan to get government funding and transform the company. The company's plan has won backing to get a loan that will save it from bankruptcy and transform the company. The problem is that the fastest way to make some of those transformational changes would be a bankruptcy filing that could also ruin it.

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