On Wed, 29 Jul 1998, Doug Henwood wrote:
> Frances Bolton (PHI) wrote:
> >15% increase in production quotas, and a promise from GM to not close or
> >sell two factories before Jan. 1999? An auto analyst for Paine Webber ws
> >quoted as saying, "I think the market expected GM to deliver a knockout
> >blow, and they didn't."
> >Looks like the UAW backed down because of the lawsuit and threat of
> >arbitration. Looks like GM won.
> My guess is that the UAW won the battle, but that GM will continue with its
> strategy of plant relocation and outsourcing. I wonder what Alan Greenspan
> thinks of this - there probably would have been no strike at all if
> unemployment were closer to 7% than 4%.