General Motors Corp.'s refusal to save Delphi Corp. from bankruptcy with a billion-dollar bailout might be a stern message to the UAW: It's ready for a fight.
That's the speculation among independent industry experts as the automaker confronts its own financial problems.
"GM's apparent decision to let Delphi fail may signal a new hard-line labor strategy at the company," John Casesa, who tracks auto stocks for investment firm Merrill Lynch, said Monday in a note to clients.
"The company, purposely or inadvertently, has put the union on notice," Casesa said. "We continue to believe that GM and the UAW will collide at some point as the company's results worsen, but the Delphi filing suggests it will be sooner rather than later."
Tuesday, October 11, 2005
Fight brews for GM, union
The Detriot Free Press reports:
