UAW not impressed by GM cuts
GM has not asked recently for new cost savings from the union, but chairman and CEO Rick Wagoner has stated that labor costs are a major issue for the automaker.
As expected, Wall Street reacted negatively to the dividend cut, with some investors feeling that the remaining dividend was insufficient compensation for the risks inherent in owning the stock. Check out in-depth analysis of the reaction to GM's moves here and here.
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