Strikes will cost GM $2 billion
From Times Wire Services
General Motors Corp.’s stock dropped almost 5% after the company reported that strikes at some of its plants and parts supplier American Axle will cost the automaker about $2 billion before taxes in the second quarter.
GM also expects to produce 230,000 fewer vehicles in the quarter because of the nearly three-month American Axle strike, which crippled its production of large sport utility vehicles and pickups. The other strikes will cost it 33,000 vehicles.
