LABOR: Deadlock at Detroit

In a peak week last December, Goliath General Motors Corp. produced 53,000 automobiles. Last week with all its 69 automobile plants closed or crippled by strikes, the world's largest motor manufacturer turned out a piddling 1,500 units, mostly trucks. The idle bulk of its 135,000 production employes continued last week, the fifth of the strike, to lose around $800,000 per day in wages. For the first time G. M.'s 330.000 stockholders felt the pinch as quarterly dividends were lopped from 50¢ to 25¢-per share.

It was more than this crimp in Recovery,...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!