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President & CEO,
Lance Wallach

  • Member of the
    AICPA faculty of
    teaching
    professionals.
  • AICPA author,
    instructor &
    national speaker.
  • National Society of
    Accountants
    Speaker of the Year.
  • Writes financial
    articles for over 50
    national
    publications.
Our other Veba
web sites:

VebaPlan.com

FinanceExperts.org
Veba Health Care .com
                      
                                         A Veba Plan LLC site
Veba Health Care.com
68 Keswick Lane
Plainview, NY 11803

ph: 516-938-5007
fax: 516-938-6330

Email:
LaWallach@aol.com
Copyright (C) 2008 Veba Plan LLC
All rights reserved.

Fri, 11 Jan 2008
Subject: VEBAs

Dear Mr. Wallach,

It as a pleasure speaking with you  this afternoon. I appreciate the time you
spent listening and the giving of your advice.
Next week, we, a small splinter union (IAM)  within a large Ford Motor
facility, at Cleveland Casting Plant will be negotiating our contract. This site
is mostly represented by the UAW who have already consummated their
contract with Ford Motor Company, and has accepted the VEBA option for
their retirees. Their VEBA will be run by the UAW and whoever they decide
to confide in to execute the health care benefit and the investments with
the millions that Ford Motor will hand over to them, and then Ford will wash
their hands of any more health care responsibilities.
Our IAM negotiations start Jan. 14th. The small group of individuals that will
be across the table from the experts representing Ford Motor, are
comprised of a few elected people that are Pattern Maker/Machinist by
trade. We have no one of any particular expertise in finance, healthcare,
or investment. We are expected to come to terms with little, to no
knowledge or leverage of the task set before us. We have 1300 peoples
lives that will be affected by these negotiations. It is a shame that the larger
unions will not step up to the plate and help with the terms that we are
faced with. Ford Motor will use this to their advantage to squeeze a few
more dollars out of our pockets..
Thank you again for your generous contribution of foresight and
knowledge to the concerns facing the American workers in this globalistic
battle for the bottom line.

Sincerely,
Mark A. Gwynn
IAM Benefits Rep.
Ford Motor
Cleveland Casting Plant
expertise:

"Mr. Wallach, thanks so much for taking the time to
talk to me today about VEBAs.  Any information
you can send me would be helpful.  Hopefully, we
can work together in the future as interest in
VEBAs increase."

Corman G. Franklin
Office of the Assistant Secretary for Policy
U.S. Department of Labor
Letter to Lance Wallach from U.A.W. Communication Coord.

Sep 18, 2007

Subject: Re: VEBA education

Mr. Wallach,
Thank you so much.  I will read this material and if I have any questions I
will call.  I do have one very important question that comes to mind - Have
you ever seen a VEBA go bad and if so, how could it have been
prevented?  I know like some mutual funds do not last and if this program
is based on investment, there is a very real possibility that the funds could
loose significant amounts.  Is there a safe guard to this problem?


Dixie Price
U.A.W. Communication Coordinator
270.745.8141
U.A.W. Local 2164                           
712 Plum Springs Loop                 
Bowling Green, KY  42101            
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