The union talks a tough game, but I don't think they're going to let anyone walk out. Everybody is in the same lifeboat. They're not going to start to fence with each other in a rubber lifeboat.
GM may have to enter this situation and take a good chunk of Delphi back.
The scariest picture in town is the Hyundai Sonata. It's the best value in the automotive market. It has everything that a Honda Accord and a Toyota Camry has, and it's built in Alabama.
It's up to the UAW to make a counteroffer. Miller wants to see how far they're willing to go.
They've closed the productivity gap wonderfully, but they had to do so, because it's the thing they could address.
Turning over an entire labor force has never happened on this scale.
There will be another burst of gypsy moves. GM will have to move another 20,000 to 30,000 in the next two to three years. You're really going to have to get a lot of these people to retire or move back to Michigan and Ohio.
Clearly, the dividend cut was overdue. It's interesting that it only finally happened when (Jerome) York joined the board. The 50 percent dividend cut in the eyes of the union is a necessary action, it had to happen.
As Ford gets smaller, Michigan will get smaller. One hundred thousand people left the state in the last two years, and this will accelerate in the wake of Monday's announcement.
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