"GM and UAW inch closer to resolution in strike negotiations"
General Motors has made a counteroffer to the United Auto Workers (UAW) in an effort to end the strike by the union. The strike, which began on September 15, is the first-ever targeted strike against the Detroit Three automakers. While there has been movement in a few key areas, significant gaps still remain. Ford has also made a new offer, narrowing differences on pay increases, but agreements on other significant issues have not been reached. GM estimates the cost of the strike to be $200 million during the third quarter.
