Blog: Fragile 'shared suffering' consensus at GM
Dave Leggett | 10 April 2006
Despite Bob Lutz's remarks there are still possible future scenarios for GM that would involve Chapter 11; GM is not exactly out of the woods yet. The Delphi situation has yet to be resolved and the UAW has an eye on GM's considerable cash mountain as a source of compensation for its belt-tightening members at Delphi.
Beyond that, there's still a deal to be struck on a new labour contract with GM's workers. The current Wagoner-Gettelfinger 'shared suffering' (pain for shareholders too, re GM's shareholder dividend halving) consensus is seen by some as fragile on both sides. Wagoner is under pressure from Jerry York to be more radical and Gettelfinger has an increasingly disgruntled UAW membership base to contend with.
I'm starting to get a small idea of the scale of things here in China, but really, I'm only scratching the surface of this vast country....
Given the startling complexity of obtaining a journalist visa for China - the code 'J2' is now indelibly stamped on my mind - it was with some surprise how swiftly I managed to sail through airport im...