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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (388)	6/12/1998 11:19:00 PM
From: porcupine --''''>	Read Replies (2) \| Respond to 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.