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Strategies & Market Trends : MDA - Market Direction Analysis

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Dec 17 4:00 PM EST

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To: Lee Lichterman III who wrote (25806)	9/14/1999 6:43:00 PM
From: Lee Lichterman III	Read Replies (1) of 99985

This is kind of old but since there is a news black out on the negotiations as of late, this was all I can find. Rising labor costs, what inflation??? ... In a three-year contract offer from GM, the industry's leader proposed a 2 percent wage increase and $500 one-time payment, followed by a 3 percent raise in the second year, and a $1,500 lump-sum payment in the third year, people familiar with the offer confirmed Monday. The offer from No. 3 DaimlerChrysler also includes wage increases, although union sources said the German-American automaker's overall package was more generous than the terms offered by GM. Merrill Lynch analyst John Casesa said last week he expected the Big 3 automakers, flush with cash from a robust U.S. sales market, eventually to agree to annual wage increases of more than 3 percent. The UAW has not received an annual wage increase from Detroit's automakers in each year of a three-year contract since 1982.... dailynews.yahoo.com Good Luck, Lee

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