New York Comptroller Thomas DiNapoli met with picketers at Rochester’s Lexington Avenue plant Monday as the strike against General Motors entered its fourth week.
DiNapoli sent a letter to General Motors' CEO last week calling for a quick end to the dispute. He says the 21-day strike by thousands of union members is costing the state money. He told Spectrum News that NY State's pension fund is at stake with millions of dollars in shares of the company's stock.
"We have 3.8 million shares of GM in our portfolio for the state pension fund," DiNapoli said. "We know the last time there was a strike at General Motors, it cost them billions of dollars in revenue. It cost the market share as well. So, in terms of the long-term fiscal health of General Motors, which is important to our investment, retirees and taxpayers having labor peace and a good relationship is important to the long-term profitability of the company."
DiNapoli said he advocates for local UAW picketers and says it is important that they are supported as they stand up for their rights and their families’ economic security.
However, the strike doesn't appear to be ending anytime soon. The union's chief negotiator said contract talks have hit a snag. As long as picketers are on the line for their four-hour shift, they will be eligible to collect $250 in strike pay.
The dispute has shut down GM’s U.S. Production since September 16 and hampered manufacturing in Mexico and Canada.