For those who believe General Motors Corp is in the midst of spectacular turnaround from its many woes, Monday's walkout by the United Auto Workers union was a dose of reality.
The strike at General Motors Corp will cause US production losses of 760 vehicles per hour and could shut the automaker's facilities in Canada and Mexico within three days, a leading industry analyst said.
Members of the United Auto Workers union at General Motors Corp reacted with a mixture of nervousness, surprise and stoicism on Monday after their union called a strike against the top US automaker.
The United Auto Workers' return to bargaining with General Motors Corp within hours of calling the first national strike against the automaker in 37 years may signal the union's desire for a quick end to the walkout.
Oil is up, the dollar down; and if the petroleum part of the relationship doesn't change significantly, which looks unlikely, nor probably will the currency piece.
Volkswagen boss Martin Winterkorn will visit Malaysia in the next few weeks to conclude a deal between the German auto giant and state-owned carmaker Proton, according to a newspaper report.
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Raymond Zhou
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