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Non-Tech : GM - General Motors
GM 70.75+2.8%Nov 7 3:59 PM EST
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To: Uncle Mikey who wrote ()6/30/1998 2:39:00 PM
From: NewsTrader  Read Replies (1) of 543
 
General Motors Corp. (GM) is estimating that the ongoing strikes by unions that have crippled its North American operations will cost the company $1.18 billion, or $1.79 per share after taxes, in the second quarter of 1998, according to a Form 8-K filed today with the SEC. The costs are in connection with the loss of 227,000 units of production, directly caused by the work stoppages. The company believes it has lost $890 million in its North American operations and $290 million in its Delphi Automotive Systems unit.
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