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• GM offers up to $200 million to end American Axle strike

  Filed under: Plants/Manufacturing , GM , Earnings/Financials , UAW/Unions General Motors has been hit so hard by the ongoing American Axle strikes that it's stopped production of the GMC Yukon, Denali, Sierra heavy-duty regular and extended cab, its commercial-duty pickup and variants of Chevrolet trucks and Tahoes. All the while, the General is still negotiating with the UAW over local contracts at some of its most important plants . To ease some of its supply problems, General Motors has reportedly offered as much as $200 million to American Axle for the funding of employee buyouts, early retirements and for the support of wage buy downs. The offer, however, is conditional on a quick resolution between American Axle and the UAW. Spokesman Dan Flores says that GM hopes "the offer will help bridge the gap between American Axle and the UAW and that they will be able to reach a mutually satisfactory agreement in the near future." Both the UAW and American Axle sound supportive... Posted May 09 2008, 12:55 AM by Autoblog Filed under: GM, Plants/Manufacturing, Earnings/Financials, general motors, GeneralMotors, UAW/Unions, strike, GmStrike, GM Strike, american axle strike, AmericanAxleStrike, American Axle, AmericanAxle, gm-strike, american-axle-strike, general-motors, american-axle