HomeAbout

TL;DR CNBC


GM secures new $6 billion credit line as UAW strike costs reach $200 million - TL;DR CNBC

GM secures new $6 billion credit line as UAW strike costs reach $200 million

Publishing timestamp: 2023-10-04 14:40:33


Summary

General Motors has secured a new $6 billion line of credit as they prepare for additional strikes by the United Auto Workers union. The strikes have already cost the automaker $200 million in the third quarter. GM's CFO, Paul Jacobson, stated that the new line of credit is necessary due to the union's intention to prolong the strikes. The credit line comes after Ford obtained a $4 billion line of credit for similar reasons.


Sentiment: POSITIVE

Tickers: FSTLAGMSTLAM-IT

Keywords: detroitgeneral motors cobreaking news: businessbusiness newslabor economypersonnelpaul jacobsonmary barrabusinessford motor costellantis nvtransportationautos

Source: https://www.cnbc.com/2023/10/04/gm-secures-new-6-billion-credit-line-as-uaw-strike-costs-200-million.html


Developed by Leo Phan