Feb 10, 2011 online at www.uawlocal2250.com
The Election Committee election will be held Tuesday, Feb. 15. Polls will be open from 5 am to 7 pm at the Union Hall. If a runoff is needed it will be held Tuesday, Feb. 22 from 5 am to 7 pm.
From the Wall Street Journal: Ford Motor Co. on Thursday said it would take a charge to its first-quarter earnings and use cash or shares to shave $3 billion in debts as the auto maker takes another step toward its goal of regaining an investment-grade credit rating. The conversion, scheduled for March 15, could lower the company's outstanding automotive debt to $16.1 billion while reducing its annual interest rate expense by $190 million, the company said. It spent $1.8 billion on interest expense last year. Ford's total automotive debt at the end of 2009, excluding Ford Motor Credit Co., was $34.3 billion. The auto maker has since taken steps including redemptions and restructuring to pare its debt, leaving it with an automotive debt of $19.1 billion at the end of 2010. By comparison, General Motors had $8.6 billion in outstanding debt as of Sept. 30.
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