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GM Offers $200M To End American Axle Dispute

Law360 (May 9, 2008, 12:00 AM EDT) -- General Motors Corp. has agreed to chip in up to $200 million for a quick resolution to a 10-week strike against parts supplier American Axle and Manufacturing, which has shut down about 30 of the car maker's factories.

GM's financial aid is meant to stem $800,000 in lost earnings as a result of the loss of about 100,000 production vehicles from the strike, according to a GM regulatory filing on Thursday. The $200 million would fund employee buyouts, early retirements and buydowns.

The strike began on...
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