General Motors May Face Bankruptcy
December 7th, 2005 by admin
Unless the United Auto Workers union accepts concessions that enable GM to save money right now
Trimming the expenditures may be the only thing that can save GM. In fact, industry analysts predict that their days are numbered unless the expenses go down.
Analysts say General Motors faces bankruptcy unless the United Auto Workers union accepts concessions that enable GM to hunker down as a smaller business.
And they contend the twin crises at GM and bankrupt auto parts supplier Delphi eventually could reshape much of the state’s 125,000-employee auto industry. It’s no wonder. GM and Delphi are huge.
With 12,000 workers in the state, GM is Indiana’s largest industrial employer after drug maker Eli Lilly. Delphi is No. 3.
What remains to be seen is whether or not unions and internal struggles will prevent that from coming to fruition.
See Also
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Auto Giants Faces Bankruptcy
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