The UAW strike at American Axle may be hurting General Motors’ production capacity, but nowhere is the damage as apparent as on the supplier’s financial book. American Axle reported a $27 million first quarter loss on Friday, largely due to the UAW strikes at five of its U.S. plants.
In comparison, during the same period last year, American Axle posted a net income of $15.7 million. According to Automotive News, the company’s revenue also sharply decreased, tumbling from $802.2 million in Q1 of 2007 to $587.6 million during the first quarter of 2008.
The UAW’s strike of American Axle began on February 26 and involves about 3,650 workers. The strike has caused General Motors — the U.S.’ largest automaker — to close 30 production facilities, including several light truck and passenger car plants.
04/25, 12:02 PM
posted by:
trantz
Congratulations.
04/25, 12:50 PM
posted by:
beantownslut
ha ha
04/25, 1:03 PM
posted by:
lucklaster
This is what the false economy of unions does for the company and our economy.
04/25, 1:19 PM
posted by:
RaineMan
Why are any of us acting like this is news? Your labourers are on strike… of course you are losing money.
04/25, 2:27 PM
posted by:
oldraven
End of story.
04/25, 2:47 PM
posted by:
i64X
Thanks for deleting my “Strike the company in to the ground so your jobs can go to Mexico” comment LLN! Way to moderate opinions!
04/25, 4:55 PM
posted by:
1c3d0g
This is what happens, American Axle, when you’ve got a bunch of incompetent fools “running” the company.
04/25, 9:20 PM
posted by:
WordPressSucks
“Alright guys, we need to strike! Let’s strike so hard the company we work for goes out of business. That will show them! Maybe when they’re out of business they’ll have more respect for our jobs!!!!”
These guys are so smart, why are we not WORSHIPING them?? Imagine what they could do for society!?
04/26, 6:59 PM
posted by:
jayjc08
They’re starting to act in vain, there probably isn’t one of them that doesn’t know GM’s financial conditions, or that this may be the end of their jobs. But hey, that’s just my opinion, right?