GM building "strike bank" in preparation for Delphi walk-out

Rick Wagoner, embattled head of General Motors, appeared on CBS's "Face the Nation" Sunday morning news program, and confessed that GM is stockpiling parts and complete vehicles in an attempt to protect the automaker in case its spin-off supplier Delphi decides to strike. Indeed, this comes as little surprise to those who have noted the unusually large discrepancy between GM first-quarter sales and production figures. Wagoner admits that the strike bank won't do much, if anything, to keep GM running if indeed Delphi's workers stage a walkout.

In the meantime, word is that Wagoner would have stepped down as CEO had he not received the vote of confidence from GM's board last Monday.

[Source: The Detroit News]