“A rising chorus of business gurus is singing the praises of a new solution to the U.S. auto industry’s ongoing crisis: one big healthcare trust for all the Big 3’s workers. According to the proposal’s cheerleaders, by making giant one-time pay-ins the Big 3 auto makers can slice off an estimated $116 billion worth of retiree health obligations from their balance sheets in one swoop and restore profitability. What’s more, union members will gain too because the money and future administration of retiree health care will be placed in the hands of a massive UAW-administered trust, called a Voluntary Employees Beneficiary Association (VEBA). A simple win-win for all, right? ‘Wrong,’ say a growing number of United Auto Workers members.” (08/31/07)