Talks continue between the United Auto Workers and General Motors to come to terms and avoid a walkout. The deadline is 11 a.m. Eastern time.

Although neither side is commenting on what is causing the holdup in settling the dispute, it is known that GM is trying to lower costs of production. The country has witnessed the decline of GM stock, and sales of its cars. Several of the outer divisions, suppliers of basic parts to the production line, have either been scaled back greatly or closed.

Financial analysts state that GM could weather a strike of up to a month with no real adverse effects, but any longer could be devastating

One of the known problems is the retirement fund for current workers. GM wishes to have the fund moved to a union controlled trust.

While it is easy to see the problems on both sides, it is hard to become very sympathetic to the workers, as most are semi-skilled at best, and enjoying pay and benefits far in excess of what they might make in any similar job situation. Workers are being paid at levels that reflect a time when GM was the leader in the world, and unfortunately, for now, that time has passed.

No such conditions for strike exist with Ford or Chrysler.

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[tags] Detroit automakers, Chrysler, Ford, General Motors, strike, walkout, United Auto Workers [/tags]