• The Voluntary Employee Benefit Association for Ford Motor Co’s retirees expects to receive approximately $1.78 billion from the sale of warrants to purchase Ford common stock. In what was called the largest warrant auction in history, the VEBA announced the auction to purchase Ford shares for $5 per warrant on a day when shares were trading at $13.57 per share. The VEBA will receive all proceeds from the sale.
  • Service Employees International Union Executive Vice President Mary Kay Henry will likely be elected May 8 to replace Andy Stern as president of the union. Stern’s surprising retirement announcement set off a contest between Henry and SEIU Secretary-Treasurer Anna Burger, who withdrew her name from consideration after Henry secured the endorsement of four of seven executive vice presidents.
  • Leaders of the 50,000-member Association of Flight Attendants elected Veda Shook, an 18-year Alaska Airlines flight attendant and the union’s current vice president, to a four-year term as president. Also elected were Sara Nelson as vice president and Kevin Creighan, who was reelected as the union’s secretary-treasurer. Shook will replace Patricia Friend, who served four terms as the union’s president, when Friend retires in 2011.