UAW Strikes Against GM!

[mkaresh]

I think the est meant "estimated," not Eastern Standard Time. Because it's not 12:15 yet.

Personally, I think this one could last a while. Not good. Good luck to anyone trying to buy a Lambda for under MSRP. And the Malibu and CTS launches could take a big hit.

[69Firebird400]

I don't see how the UAW can say with any credibility they value (or expect) job security, since it has already lost about a third of the membership it had just four years ago.

This might be a great opportunity for GM to reduce its unsold vehicle inventories

[mkaresh]

Okay, there's a 12:15 news conference, but there is currently no agreement according to the president of a union local. Watching the local Detroit news myself now.

[adplusone]

Originally Posted by kissmyss

12:15 Est time PRESS CONFERENCE to ANNOUNCE A DEAL HAS BEEN MADE....!!! That was a long strike..!

If this is true...would not that mean the GM blinked first??

[Whitesky]

Originally Posted by adplusone

If this is true...would not that mean the GM blinked first??

The press conference is just to officially announce the strike. It is not to announce a settlement.

[stevecmh]

this is not good

i hope they can figure it out before GM loses to much money

[mkaresh]

Striker saying rumor is that there is a tentative agreement. But that's just hearsay from a guy on the line.

Official word from GM is that they're "disappointed." And that there is no tentative agreement.

If this ends quickly, then GM blinked.

[ejfx]

Why does it seem unions only care about the short term...Dont they realize how dire the long term issues are...If the union leaders cared about the future generation of union members, we would have a deal already...All they seem to care about is now...That will be the death of them...

[Greg Burr]

GM stock is up, it looks as if the strike has been figured already into the stock price.

[KUZCO]

United we stand? The Japanese competition is having a party RIGHT NOW. Why don't you wave that flag?[/quote] soon you'll add that flag to your sig bro

[uboys]

Originally Posted by jwrebholz

"We did everything possible to negotiate a new contract..."

Everything possible to make sure the contract didn't change.

Lovely. GM is finally getting its act together and turning things around, and now this.

Brilliant interpretation. Brilliant. That is exactly what that means.

[TriShield]

Unless GM can reign in their US labor and legacy costs they are doomed.

It doesn't matter what they import or how nice their trucks and cars get, they will go bust.

[blank disk]

Question:

What does this mean for the other two?

Also, I bet someone will blink quickly. Nobody wanted this and they were just pushing each others buttons.

[Pucks]

Originally Posted by igor

not really - read Friday articles how GM is the best position from all Big3 to simply move all production out of US into Canade, Mexico, South America, Korea and China - a redical move like this would sufddenly turn the tables on the manufacturing costs and make GM cars cheaprto build than Japanese cars.

I think this is a unique opportunity for GM.

Igor

But how far along are they? Can they start building sigma's and lambda's soon or will it take 2 years of setup?

GM doesn't have much leverage unless they can start producing ASAP out of country.

[86fleet]

The short sighted greed UAW really astounds me. Don't they understand that the very exisitance of their member's jobs is on the line?

They really blew it on this one. Instead of taking managment-union relations to a new level of cooperation they fell back on the long proven to be harmful, bullsh*t, socialistic, "us vs. them" mentality. I hope GM stands their ground and the UAW settles soon, otherwise I fear that many of the jobs they are "protecting" will be in Mexico or China 10 years from now