Jul 27, 2011
The United Automakers along with GM (NYSE:GM) have began negotiations on a new contract together with executives and workers kicking off talks on a factory floor at a Detroit assembly plant. The existing four-year agreement between GM and the union will expire on September 14 at midnight.
"We want the new GM to succeed and when it does, everyone will benefit," said Dan Akerson, chief executive, in the announcement.
Meanwhile, UAW President Bob King added that "our talks will center on the needs of our members and the need to continue to build great products."
General Motors (NYSE:GM) has a potential upside of 52.4% based on a current price of $28.51 and an average consensus analyst price target of $43.45.
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