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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Knighty Tin who wrote (11087)8/27/2004 12:49:22 PM
From: ild  Read Replies (3) of 116555
 
Not very inflationary:

08/27 04:08 DJ GERMAN PRESS: Opel Wants To Cut Pay Rates

FRANKFURT (Dow Jones)--Germany's Adam Opel AG (AO.YY), a subsidiary of General Motors Corp. (GM), wants to implement a host of pay cuts, Bild daily newspaper reports, citing a proposal Opel presented the workers representative council this week.

This includes no pay raises through 2009 and a 40-hour week with only 35 hours' pay,

Opel management further recommends cutting overtime, late- and nightshift rates. Management is in negotiations with the council.
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