|From:||Lenny Siegel <email@example.com>|
|Date:||Wed, 27 Oct 2010 12:51:53 -0700 (PDT)|
|Subject:||[CPEO-BIF] GM Cleanup Trust|
U.S. Enters Cleanup Settlement With Old GM By JOHN KELL Wall Street Journal October 20, 2010The company that holds the scrapped assets of the former General Motors Corp. reached a $773 million deal Wednesday with the Justice Department that should lead to the cleanup of hazardous waste on properties in several states.
Under the agreement, old GM, formally known as Motors Liquidation Co., will pay more than $641.4 million in cash and contribute additional non-cash assets valued at $120 million for the cleanup of 89 properties and sites, 59 of which are known to have been contaminated with hazardous substances or waste.
The settlement is designed to speed the sale of the company's properties. It aims to ensure prospective deals don't get tied up in disputes between current owners and state and federal environmental agencies over who is responsible for cleanup costs, a senior Obama administration official said Wednesday.
... For the entire article, see http://online.wsj.com/article/SB10001424052702304741404575564300963000826.html?mod=googlenews_wsj There are numerous other articles focusing on local allocations, such as http://www.crainsdetroit.com/article/20101024/FREE/310249962/cleanup-of-contaminated-gm-sites-nears-26-million-slated-for-metro -- Lenny Siegel Executive Director, Center for Public Environmental Oversight a project of the Pacific Studies Center 278-A Hope St., Mountain View, CA 94041 Voice: 650/961-8918 or 650/969-1545 Fax: 650/961-8918 <firstname.lastname@example.org> http://www.cpeo.org _______________________________________________ Brownfields mailing list Brownfields@lists.cpeo.org http://lists.cpeo.org/listinfo.cgi/brownfields-cpeo.org
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