As the strike by the United Auto Workers against General Motors enters its third week, the economy is starting to feel the effects. Picketers, who are receiving $250 per week in strike pay from the
union, are foregoing dining out and vacations An analysis released last week by East Lansing-based consultant Anderson Economic Group estimates that GM has lost profits of $113 million so
far, and is now losing money at the rate of $25 million a day. “Then, too, striking UAW members and workers laid off at GM's supplier network have lost wages totaling $266 million so far,
the analysis said," according to the
Detroit Free Press. "That translates into an estimated $68 million in lost federal income and payroll taxes.”
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