GM became one of the most active stock on the street after the United Auto Workers President Ron Gettelfinger said Monday that the union has no intention of suspending a national strike against GM until it reaches a deal with the automaker. Talks between GM and the United Auto Workers broke down over issues related to active workers, including job security, investment in U.S. plants, wages, benefits and job creation.
This strike is the first national strike since 1970. The two sides held late-night bargaining session on most nights, trying to hammer out a deal that would set up a huge, union led health care trust to assume retiree medical benefits and address a slew of other economic issues.
It was reported that the two sides had an agreement the health-care trust talks broke down on other demands from both sides. UAW President Ronald Gettelfinger and Vice-President Cal Rapson issued a bulletin at 1:41 a.m. saying that there would be a strike on Sept. 24 if a deal wasn't reached.
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