GM strike enters third day
On Monday, September 15, the United Auto Workers went on strike against General Motors, the first in the automotive industry in about 12 years.
After a dispute over the union's decision to cut labor costs and get a larger share of GM's profits, about 49,000 workers walked off their jobs. A new four-year contract is currently being discussed, with health care costs being one of the major negotiation points.
Most workers are hoping for a quick solution, but leaders stated that they are willing to protest as long as needed. Others feel as though no agreement will be reached. Machinist Clarence Trinity stated, "I can't see this lasting too long... Both sides are losing bad."
The strike is costing General Motors about $100 million per day. So far, the company has lost about $300 million in earnings. GM has enough inventory to supply dealers for about 77 days. If the strike doesn't end by the end of the week, it will affect production in Mexico and Canada, as well as sales and shares.
The White House is currently working alongside GM as well as the UAW to negotiate an agreement that would reopen a recently closed plant in Ohio. The intervention of the White House could enhance the chances of Trump being reelected.