GM Losing $25M A Day During Strike: Report

MICHIGAN — A new report is shedding light on the financial impact of the strike against General Motors. GM is estimated to have lost profits of $113 million so far and is now losing money at the rate of $25 million a day, according to an analysis released Thursday by East Lansing-based consultant Anderson Economic Group.

The Free Press reported that striking UAW members and workers laid off at GM's supplier network have lost wages totaling $266 million so far, which translates into an estimated $68 million in lost federal income and payroll taxes.

UAW strikers are reportedly feeling financial loses now too because Friday would last week because have been a payday had they still been inside the plants instead of outside picketing. The first UAW checks for strike pay of $250 per week should be coming soon, the Free Press reported.

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