GM’s Lost Profits Pile Up as UAW Offers Counter Proposals
- Union has made offers regarding all unsettled issues, VP says
- Strike has gone from ‘just a blip’ to doing serious damage
Demonstrators holds during a UAW strike outside the General Motors Co. Flint Assembly plant in Flint, Michigan on Sept. 16.
Photographer: Anthony Lanzilote/BloombergThis article is for subscribers only.
After missing out on more than $500 million of profit due to a strike, General Motors Co. has reached a potential turning point in its contract negotiations with the United Auto Workers.
Proposals regarding all unsettled issues have been presented to the automaker, and the union is awaiting a response, Terry Dittes, the vice president of the UAW’s GM department, wrote in a letter to the labor group’s leaders Wednesday.