Graham and Doddsville -- Value Investing In The New Era Message Board

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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: porcupine --''''> who wrote (388)	6/12/1998 11:19:00 PM
From: porcupine --''''>	Read Replies (2) of 1722

Naysayers have said that GM wouldn't stand up to the UAW. Yet, GM has had 23 strikes since 1993. The costliest was in 1996, resulting in a $1 billion loss. Yet, overall, GM now saves $4 billion annually in labor costs. Imo, the UAW has made a big mistake calling this strike now. Their reasoning is that there isn't a lot of slack in the U.S. labor market. But, GM can find a lot of labor in Asia at the moment. And, they no longer have to build a factory from scratch. They can now buy first rate Asian factories -- at going out of business prices.

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