English 
English Welcome
on East Filters
Looking for auto parts? Please click below.
Our products
Racor Fuel filter/Water Separator
Oil water separator parts
Sakura Filters Equivalent
Fuel filter accessory
Top Searches
Oil filter
Fuel filter
Air filter
Oil water separator
Fuel water separator
Racor
Volvo
Caterpillar
Benz
Perkins
Scania
Komatsu
MAN
HINO
Iveco
TOYOTA
GM, UAW talks resume as deadline looms
Talks between General Motors Corp and theUnited Auto Workers resumed on Sunday, just two days before a deadline for the struggling automaker to submit a new restructuring plan to the U.S. government.
Union negotiators in Detroit walked away from the bargaining table on Fridayover differences with GM over the central issue of how to fund retiree health-care costs.
Negotiating teams met on Sunday, according to a person briefed on the situation, although it was unclear if any agreement could be reached by the deadline.
Meanwhile, GM and a committee of its bondholders were locked in high-stake talks aimed at reducing debt at the struggling automaker by about $18 billion.
GM spokesman Steve Harris said the automaker's board would convene on aconference call on Monday to review a draft of the restructuring plan although work on it was likely to continue right up until the deadline for submission.
If GM cannot win deals to cut its debt and costs, the automaker would beleft reliant on an expanded bailout from the Obama administration or forced to consider bankruptcy.
GM and Chrysler LLC , are required to submit new turn around plans by Tuesday showing how they can be made viable after receiving $13.4 billion in emergency aid.
Both automakers say they expect to meet cost-cutting targets set out underthe bailout, which include making blue-collar labor costs competitive withJapanese automakers that operate factories in the Untied States.
UAW representatives could not be reached for comment.
A senior White House adviser said on Sunday that sweeping and shared sacrifices were needed to save the automakers. 'That's going to involve concessions on the part of everyone, not just the auto workers, but shareholders, creditors and, of course, the executives,' President Barack Obama's senior adviser David Axelrod said on 'Fox News Sunday.'
A parallel set of talks between Chrysler LLC and the UAW was also underway on Sunday. 'The company is working diligently on its viability plan and will submit it by its deadline,' the automaker said in a statement.
GM debt holders on a 10-member committee, including Franklin Templeton Investments, Fidelity Investment and Loomis Sayles & Co, also remained in talks spurred by a requirement that the automaker reduce $27.5 billion in debt toabout $9 billion by exchanging the debt for equity.
A person involved in those discussions said they were likely to run to the brink of the deadline as creditors press for more favorable terms. Any breakdown in the union talks would almost surely scuttle other debt talks.
GM has received $9.4 billion from the U.S. Treasury and has been promisedanother $4 billion more if it can demonstrate that it can be made viable by slashing costs and debt.
Union negotiators in Detroit walked away from the bargaining table on Fridayover differences with GM over the central issue of how to fund retiree health-care costs.
Negotiating teams met on Sunday, according to a person briefed on the situation, although it was unclear if any agreement could be reached by the deadline.
Meanwhile, GM and a committee of its bondholders were locked in high-stake talks aimed at reducing debt at the struggling automaker by about $18 billion.
GM spokesman Steve Harris said the automaker's board would convene on aconference call on Monday to review a draft of the restructuring plan although work on it was likely to continue right up until the deadline for submission.
If GM cannot win deals to cut its debt and costs, the automaker would beleft reliant on an expanded bailout from the Obama administration or forced to consider bankruptcy.
GM and Chrysler LLC , are required to submit new turn around plans by Tuesday showing how they can be made viable after receiving $13.4 billion in emergency aid.
Both automakers say they expect to meet cost-cutting targets set out underthe bailout, which include making blue-collar labor costs competitive withJapanese automakers that operate factories in the Untied States.
UAW representatives could not be reached for comment.
A senior White House adviser said on Sunday that sweeping and shared sacrifices were needed to save the automakers. 'That's going to involve concessions on the part of everyone, not just the auto workers, but shareholders, creditors and, of course, the executives,' President Barack Obama's senior adviser David Axelrod said on 'Fox News Sunday.'
A parallel set of talks between Chrysler LLC and the UAW was also underway on Sunday. 'The company is working diligently on its viability plan and will submit it by its deadline,' the automaker said in a statement.
GM debt holders on a 10-member committee, including Franklin Templeton Investments, Fidelity Investment and Loomis Sayles & Co, also remained in talks spurred by a requirement that the automaker reduce $27.5 billion in debt toabout $9 billion by exchanging the debt for equity.
A person involved in those discussions said they were likely to run to the brink of the deadline as creditors press for more favorable terms. Any breakdown in the union talks would almost surely scuttle other debt talks.
GM has received $9.4 billion from the U.S. Treasury and has been promisedanother $4 billion more if it can demonstrate that it can be made viable by slashing costs and debt.
