ad info

CNN.com
 MAIN PAGE
 WORLD
 ASIANOW
 U.S.
 LOCAL
 POLITICS
 WEATHER
 BUSINESS
 SPORTS
 TECHNOLOGY
 NATURE
 ENTERTAINMENT
 BOOKS
 TRAVEL
 FOOD
 HEALTH
 STYLE
 IN-DEPTH

 Headline News brief
 daily almanac
 CNN networks
 CNN programs
 on-air transcripts
 news quiz

  CNN WEB SITES:
CNN Websites
 TIME INC. SITES:
 MORE SERVICES:
 video on demand
 video archive
 audio on demand
 news email services
 free email accounts
 desktop headlines
 pointcast
 pagenet

 DISCUSSION:
 message boards
 chat
 feedback

 SITE GUIDES:
 help
 contents
 search

 FASTER ACCESS:
 europe
 japan

 WEB SERVICES:
US

Strike hurts more than GM

General Motors isn't the only company laying off workers because of the devastating strikes at two plants in Flint, Michigan.

Other parts suppliers are having to close their doors.

  • Lear Corp., whose seats go into Chevrolet Luminas and Buick Regals, has had to idle 2,000 workers. And other parts manufacturers are beginning to lay off workers, too.
  • Cooper Industries, which supplies lighting fixtures for Corvettes and Firebirds, says the strike is costing it about $1 million a month in lost sales. Cooper trimmed its second- quarter earnings expectations, due in part to the strike.

"The ripple effect on GM suppliers is profound," said John Casesa, an auto analyst for Schroders. "GM represents anywhere between 15 and 20 percent of the sales of most big suppliers. So these are lost sales and lost profits. And you'll see it in their second-quarter results."

Back to Story

Correspondent Fred Katayama contributed to this report.


Message board:
Related stories:
Latest Headlines

Today on CNN

Related sites:

Note: Pages will open in a new browser window

External sites are not
endorsed by CNN Interactive.


  related readingbook search
SEARCH CNN.com
Enter keyword(s)   go    help

  
 

Back to the top
© 2000 Cable News Network. All Rights Reserved.
Terms under which this service is provided to you.
Read our privacy guidelines.