GM Bankruptcy Report

He, guys, GM Management will demand from the workers a zero wage increase to get out of this... Everytime the same sh...

Of course Don, the situation is serious. Therefore, I proposed to set up a global conference call. It makes sense that the unions from every regions should talk about this and the effects on the regions, countries and sites. We are still working on this, but the vacation period has started in Europe and it is difficult to get everybody on board. We'll stay in touch.

So, there are no concerns about reports that GM (North America) is on the verge of bankruptcy?

Keep watching. MAnagement is desperate. They will try to cut costs even if it does not make any sense. But look also on the big investments in Asia, Eastern Europe and Latin America. Where do they get the money from??? Does your management plan any outsourcing? Tell them it costs too much money under these circumstances (that's right)

this story is being reported in Australia and New Zealand.Not on page one however enough to raise a few eyebrows.We are particularly keen to here what impact this is having on the ground and what ramifications there may be here for us in Aus.

That the situation in North America is critical, but Merrly Lynch, the investment bank, is playing with the future of thousands of workers by providing this "news" and making money out of it!! It is a shame.