Legal Headlines

The President at the General Motors and Chrysler, announced yesterday, continues to top billing in the press. Obama took a hard fight with automakers, GM giving 60 days to reach a viable solution, not to mention radical restructuring plan, Chrysler and 30 days. If companies fail to do this it would file for bankruptcy. The New York Times writes that, consequently, the United Auto Workers, which, with the bondholders, has so far “reluctant” to GM applications, will be asked to make more concessions on a new contract salary and benefits and health benefits for retirees.