GM-UAW negotiations continue, but there’s a light at the end of the tunnel. Unfortunately it’s a searchlight attached to a gun, but nonetheless…..
The UAW has called a strike against General Motors for 11 a.m. this morning unless it makes significant progress toward a new contract. The surprise decision comes after nine days of marathon bargaining past last Friday’s contract expiration.
“We’re shocked and disappointed that General Motors has failed to recognize and appreciate what our membership has contributed during the past four years,” UAW President Ron Gettelfinger said in a prepared statement released at 1:40 a.m. EDT.
The strike deadline was set after a generally optimistic tone prevailed over negotiations all weekend.
GM and UAW will continue to negotiate throughout the night until the strike deadline.
Aside from the 9-7x, this shouldn’t directly disadvantage Saab.
But….a prolonged strike will cause some serious cashflow issues that will have flow-on effects.
Watch this space.