How Long Has GM Got?


gm CAW President Ken Lewenza has told the Globe and Mail that he now thinks a bankruptcy protection filing for GM is likely.

The current deadline for GM and the CAW to come to a second agreement is May 15th…only 7 days from today. The sticking point seems to be that the agreement the CAW reached with Chrysler prior to Chrysler’s own bankruptcy filing was $12 CAD lower than their previous agreement with GM, which they’d reached in March. No specifics have been given about either their previous agreement or what either side hopes to accomplish at present.

More news as we have it, which looks to be in slightly more than a week, at the latest. [Globe and Mail]