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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 (568)	7/29/1998 5:41:00 PM
From: porcupine --''''>	Read Replies (4) \| Respond to of 1722

Delphi worker: "[We're] fighting a losing battle"... Wednesday July 29 1:04 PM EDT GM workers ratify strike settlements FLINT, Mich. (Reuters) - Workers at two General Motors plants voted Wednesday to end strikes that virtually shut down the automaker's North American operations. The United Auto Workers union said 76 percent of the votes cast at the Delphi East plant were in favor of the pact, clearing the way for production to resume at the factory, which makes spark plugs, fuel systems, instrument clusters and other vehicle parts, by Wednesday afternoon. Workers at GM's Flint Metal Center also ratified an agreement to end their 54-day walkout at the stamping plant here, union officials said Wednesday. The United Auto Workers said 90 percent of the votes cast by local 659 at Flint Metal were in favor of the pact, which clears the way for workers to resume production of stamped metal parts such as hoods and fenders by Wednesday afternoon. Exact vote totals from the Delphi East plant's 5,800 employees were not immediately available. The settlement at Delphi East calls for GM not to sell or close the plant until Jan. 1, 2000, and to halt plans to outsource certain product lines before the national UAW-GM contract expires in September 1999. In exchange, GM will be allowed to shrink the plant's payroll to about 5,000 through an early retirement program and normal attrition. The 76 percent in-favor vote reflected some dissent among workers, who said the deal simply delayed the inevitable sale of the plant by GM. "It's only a temporary stop gap. You're fighting a losing battle," said Paul Ganske, an electrician with more than 12 years in the plant. "I appreciate what they've done, but we're going to be back at this in less than two years."