Thursday, June 16, 2005

Looks like GM in for a fight with UAW

The UAW head, Ron Gettelfinger isn't going to budge when it comes the health care benefits. He does have a point when he says:

Gettelfinger told the paper that "[GM is] paying out dividends, their equity in their stock is up a lot, they have a lot of cash on hand, they've stated that they have no intentions of going into bankruptcy.

That big cash horde that GM is holding should keep them on decent footing here. I guess the UAW is going to wait until GM is as bad as the airlines before they act. It may be a bad move to wait until GM is on its death bed though.

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