UAW strike a possibility
TEXT OF STORY
Lisa Napoli: They're getting the signs and picket lines ready. In a little over an hour, 73,000 United Auto Workers could strike if they don't sign a deal with GM -- 11 a.m. eastern is the cut-off time. Jeremy Hobson has details.
Jeremy Hobson: Both sides are keeping mum this morning beyond brief statements issued overnight.
The UAW said it was disappointed with GM for not recognizing recent sacrifices of its members. GM said it was firmly committed to working with the UAW to reach an agreement.
Automotive News Editor Dave Sedgwick:
Dave Sedgwick: Both sides have so much to gain and so much to lose. I wouldn't expect an extended strike though.
The talks are snagged on the issue of retiree health care. Specifically, the idea of creating a trust fund overseen by the UAW.
The fund could cut billions from GM's annual health care bill. A possible strike would involve 73,000 GM factory workers, but many more in the auto industry could be affected by this.
Ford and Chrysler are watching closely, since their contracts will be based on the GM deal.
In Washington, I'm Jeremy Hobson for Marketplace.