Market_Referee

New strikes = bad news

Short
NYSE:GM   General Motors Company
Despite the fact that GM is expectin things to be back to normal in a few more weeks, the strike cost General Motors has already reached $2 billion in production and cost employees nearly $1 billion in wages.

One of the custimers said one vehicle was in the shop for 28 days waiting on one part to come in.

Quick reminder: United Automobile Workers (UAW) has called strike against General Motors on September 15. The union represents some 46,000 auto workers who are striking for “fundamental rights of working-class people of this nation,” according to UAW vice president, Terry Dittes. The decision to strike came after a meeting Sunday morning at GM’s Detroit headquarters where nearly all of the 175 local union leaders present voted to strike. The strike does not affect Ford or Fiat Chrysler, which extended contracts with workers before the meeting...

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