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Strike: Wall Street's not too worried, yet

The strike might be on, but Wall Street doesn't believe that an agreement between GM and the UAW to create a new retiree health care fund is completely off, according to Detroit Free Press columnist Susan Tompor.

GM stock held its own. GM closed at $34.74 Monday, down 20 cents a share. Ford Motor Co. closed at $8.48 a share, up 25 cents a share. GM has requested that the UAW take control of a new retiree health care fund to pay out future liabilities estimated at $50 billion in exchange for a onetime payment into the fund from the automaker.

Posted by Peter C. T. Elsworth  at 9:48 AM to GM , Unions , commentary | Permalink

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