The Daily Dow
FOOL GLOBAL WIRE
by Robert Sheard (TMF Sheard)
LEXINGTON, KY. (Apr. 23, 1997) -- Three strikes and you're... ?
GENERAL MOTORS <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: GM)") else Response.Write("(NYSE: GM)") end if %> ignored the baseball umpires and dropped
only slightly, despite a third employee strike in the auto industry going
into effect.
Roughly 5,400 workers at General Motors's Pontiac East plant walked off the
job after negotiators failed to reach a local contract agreement by the deadline
just before midnight last night. The plant assembles Chevy C/K and GMC Sierra
pickup trucks, among GM's most profitable lines.
The union is demanding more staff at the plant, but doesn't like the company's
plan to hire temporary workers to fill the void.
One of the other two strikes is also against GM, at its Oklahoma City plant,
which has been shut down since April 4 because of a similar dispute about
staffing levels.
The third strike is against the number three auto maker, CHRYSLER
<% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: C)") else Response.Write("(NYSE: C)") end if %>. Chrysler's Round Mound engine plant in Detroit is on strike over
outsourcing plans, and it's completely halted the production of Dodge Ram
and Dakota pickups and Jeep Grand Cherokee sport utility vehicles.
In other Foolish Four news, CHEVRON <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: CHV)") else Response.Write("(NYSE: CHV)") end if %> was in neutral today
after posting better-than-expected earnings. Earnings were $1.27, 35% higher
than the same period a year ago.
(c) Copyright 1997, The Motley Fool. All rights reserved. This material
is for personal use only. Republication and redissemination, including posting
to news groups, is expressly prohibited without the prior written consent
of The Motley Fool.
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