GM Daewoo union to launch partial strike on wages

[doh]

http://www.reuters.com/article/marke...0080821?rpc=44

SEOUL, Aug 21 (Reuters) - Unionised workers at GM Daewoo Automotive and Technology Co, the South Korean unit of General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz), said on Thursday they had decided to launch partial strikes over a wage deal.

Union members on the day and night shifts will both halt work for four hours on Thursday, and for six hours on Friday and next Monday, the union said on its web site.

They will also refuse overtime work during the partial strikes.

GM Daewoo's union has staged 12 partial strikes resulting in about 15,000 vehicles in lost output since July 8, a company official said.

[MrCritical]

What are their current wages?

[bcjohnso99]

Originally Posted by MrCritical

What are their current wages?

No doubt less than in US/Canada, at least until the false economy of offshoring catches up with GM.

[Clownzilla]

Originally Posted by bcjohnso99

No doubt less than in US/Canada, at least until the false economy of offshoring catches up with GM.

It's nowhere near a false economy. What South Korea doesn't take, Mexico, China, India, Vietnam will be glad to take. A global GM will be a GM that will not take this strike BS from unions. Wait & see......

[mike's 01ws6]

Originally Posted by Clownzilla

It's nowhere near a false economy. What South Korea doesn't take, Mexico, China, India, Vietnam will be glad to take. A global GM will be a GM that will not take this strike BS from unions. Wait & see......

Yeah, because its so cheap to move tooling all over the place, set up suppliers, etc. Even with flexible plants there are other costs involved in swapping products from plant to plant. It would be really stupid of them if the wage increase was going to cost say 1 million a year and moving the product was going to cost 100 million.

[Aprime]

Originally Posted by Clownzilla

It's nowhere near a false economy. What South Korea doesn't take, Mexico, China, India, Vietnam will be glad to take. A global GM will be a GM that will not take this strike BS from unions. Wait & see......

lol, and you think those countries won't develop overtime? This strategy is thus far the dumbest and least sustainable I've ever seen. You're just creating more economies and hurting America in the long run (the manufacturing base disappearing and all - being solely reliant on white collar job (this has never worked)).

I could go on.

[63GrandSport001]

Originally Posted by Aprime

lol, and you think those countries won't develop overtime? This strategy is thus far the dumbest and least sustainable I've ever seen. You're just creating more economies and hurting America in the long run (the manufacturing base disappearing and all - being solely reliant on white collar job (this has never worked)).

I could go on.

I have to agree with you, when they move plants in a given country that is poor that country will start to develop and as they are developing will start to demand more wages from GM. Its a short term plan, the long term plan for GM would be to build more things in the US.

At the end of the day if GM and other US companies are successful at what they are doing the end result is the death of the US middle class. We will only have rich or poor and the rich class is going to be very tiny and the standard of living will drop greatly in the US.

[Hunid Racks]

Originally Posted by 63GrandSport001

I have to agree with you, when they move plants in a given country that is poor that country will start to develop and as they are developing will start to demand more wages from GM. Its a short term plan, the long term plan for GM would be to build more things in the US.

At the end of the day if GM and other US companies are successful at what they are doing the end result is the death of the US middle class. We will only have rich or poor and the rich class is going to be very tiny and the standard of living will drop greatly in the US.

But the death of the middle class is "good" or at least every supposed expert will tell you that. And protectionism is "bad". But why is it that other established economies don't embrace that concept?