American Axle Strike: Day 20...S&P creditwatch addition

[ScreamingMeemie]

http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-23834141.htm

snip-
SAN FRANCISCO, Mar. 17, 2008 (Thomson Financial delivered by Newstex) -- Standard & Poor's (NYSE:MHP) Ratings Services said Monday it has placed the ratings of General Motors Corp. (NYSE:GM) , American Axle & Manufacturing Holdings Inc. (NYSE:AXL) , Lear Corp. (NYSE:LEA) , and Tenneco Inc. on creditwatch with negative implications.

The agency said it is taking the action in light of the extended American Axle strike. The work stoppage began Feb. 25 at American Axle's U.S. United Auto Workers plants.

'We believe the strike has gone on long enough to possibly begin to affect
the financial resources of GM and those suppliers most exposed to the
automaker,' said S&P analyst Robert Schulz in a statement.
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Possibly affect??? Possibly? Get realistic here S&P...

From the grapevine...rumor has it that the UAW refuses to budge and that this will go well into April.