Fighting GM puts a financial squeeze on striking union workers

Fighting GM puts a financial squeeze on striking union workersBOWLING GREEN, Ky. - (Reuters) - While striking workers at General Motors Co's U.S. auto plants continue walking picket lines for a third week to demand better pay and benefits, the financial pressure has mounted for union members like Frank Lee. Analysts estimate that GM could lose $1 billion from the labor dispute that began on Sept. 16 and is now the longest nationwide strike at the automaker since 1970. For GM, which had $24 billion in cash and marketable securities as of June 30, that cost is likely manageable.




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