• From Chairman Mike Bullock: There were several more cost reducing moves that the International Union proposed to the Delegates at the Constitutional Convention and were passed. The Public Review Board was reduced from 7 members to 6 (Article 32, Section 2 of the Constitution). The Public Review Board was created at the constitutional convention in 1957 for "the purpose of insuring a continuation of high moral and ethical standards in the administrative and operative practices of the International Union and its subordinate bodies, and to further strengthen the democratic processes and appeal procedures within the Union as they affect the rights and privileges of individual members of subordinate bodies."
Also, the elective officers of the International Union was reduced from 5 Vice Presidents to 4 (Article 10, Section 1).
• The Tuition Assistance Program for active employees has been reinstated effective August 1, 2010 for class terms beginning on or after August 1, 2010. Program guidelines and eligibility will be communicated to your Local TAP Administrator and then published in the TAP folder located in the online documents section of JAS, which can be found at www.uawgmjas.org/tap
• From Automotive News: General Motors is preparing for an initial public offering that would sell 20 percent of the Treasury's stake in the automaker and reduce the U.S. to a minority owner, said two people familiar with the plan. The aim is to sell a fifth of the government's 304 million shares, said the people, who asked not to be identified revealing private discussions. That would reduce the Treasury Department's stake to less than 50 percent from 61 percent now. Final decisions on which owners will sell how many shares haven't been made and may change, the people said. A registration statement may be filed in August, aiming for a November stock sale, said four people familiar with the plan. The sale will probably raise $10 billion to $15 billion, depending on the company's performance, the strength of the economy and the health of the IPO market, the people said.
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