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Subject:  Re: Stock split question Date:  8/28/1998  1:24 PM
Author:  MomAtHome Number:  521 of 7023

I don't know how well this whole spin-off thing is going to go. Here's a quote from our local paper, The Ann Arbor News, from Weds 8/26. The reporter is Rick Haglund.

"One of those announcements - that GM was spinning off its giant Delphi Automotive Systems parts unit - infuriated Yokich.

The union president told reporters at a media briefing Tuesday that he didn't know about the plan until after GM's board of directors approved it.

When Ford and Chrysler get ready to sell operations and close plants involving UAW jobs, they discuss such moves with the union before the decisions are made, according to Yokich.

'That's exactly what's wrong with GM,' he said.

The Delphi spinoff is going to be a major topic in next year's national contract negotiations at GM, said Yokich, who threatened Tuesday to strike the automaker if it doesn't back down on plans to make Delphi and independant company."

Soooooo, I don't know who'll "win" this one, or if maybe Yokich is just blowing steam. But it looks like GM still has plenty of labor problems coming fown the pike.


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