GM Employees On Nationwide Strike As UAW Talks Fail

As many insiders predicted, contract talks between General Motors and the United Auto Workers failed resulting to the first nationwide strike of GM factory employees since 1970. The strike was caused due to the conflict between GM’s CEO Rick Wagoner's need to cut labor and health-care costs, and UAW President Ron Gettelfinger's goal of protecting the pay and benefits of 73,000 union members at GM's U.S. plants. -Continued after the jump

Al Benchich, president of UAW Local 909 in Warren, Michigan noted characteristically on Bloomberg, “We've been bending and GM management wants us to bend more and they are not willing to give''. On the other side of the fence, GM spokesman Dan Flores said, “We are disappointed in the UAW's decision to call a national strike. The bargaining involves complex, difficult issues that affect the job security of our U.S. workforce and the long-term viability of the company.'' Whoever’s to blame, there’s one thing for sure; GM’s going to be in heaps of trouble if it doesn't don’t end this strike as soon as possible.

Via: Bloomberg