GM's stock fell Wednesday as its parts supplier Delphi moved closer to a labor dispute with its union. Labor problems intensified as United Auto Workers union members reacted angrily to a wage cut offer from Delphi, which was spun off from GM in 1999. A lengthy walkout at Delphi would cost GM about $5 billion a month in lost sales and wages paid to idled workers.
See "GM Caught in Delphi Crossfire", John O'Dell, Los Angeles Times, March 29, 2006