Word: gm
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Dates: during 1990-1999
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...GM strike keeps rolling while an arbitrator hears arguments Wednesday on the company's motion to have the walkout ruled illegal. That's not likely, and some union officials now believe the strike could last through September...
...strikes have lasted this long because GM is determined to make a stand to defend its ability to compete. But Stodghill says there's no end in sight. "It's already gone on longer than anyone predicted," he says, and notes that even Wall Street -- generally supportive anytime management gets tough with labor -- has started to worry that the strike's duration may outweigh any benefits derived from taking a hard line. GM stock dropped more than two points Monday after weekend talks blew up, and was creeping back Tuesday only because analysts had fully expected the earnings carnage...
DETROIT: General Motors' damage estimate Tuesday was staggering indeed -- second-quarter earnings plunged 81 percent from a year ago. But the pair of strikes that have left the world's largest carmaker with no parts to make cars with have only begun to wreak their havoc on GM's business. "Lost market share is going to be more of a problem for GM than ever," says TIME Detroit bureau chief Ron Stodghill. "The summer is a strong buying season, and GM dealers don't have enough cars. In the auto business, once you lose a customer...
...that either side lacks for incentive to soften its stance. GM is fast running out of parts to supply its assembly lines nationwide, and conservative estimates put the company's losses at $50 million a day. The workers stand to take a big financial hit themselves; if they do not return to work by June 26, they lose a week's worth of union-won "holiday pay" for the first half of GM's annual two-week plant shutdown, which begins June...
...DaimlerChrysler team aims to adopt a similar strategy. But this alliance will work on a different strategic level than do most other globalization efforts. First and foremost, the sheer size and scope of this merger all but assures mutual survival in ongoing global consolidation. Along with Ford, Toyota and GM, DaimlerChrysler will be a first-tier, all-world player...