Yesterday, General Motor's hosted a conference call to discuss with investors (and the media) the details of its contract with the United Auto Workers union (UAW.)  After every contract negotiation, I have found the terms sound like they will help the automakers move forward.  But as I have discussed before, we often find later that the concessions were usually too little, too late. 

However, I will admit that the concessions detailed yesterday seemed to provide a lot of the flexibility I have been saying someone like GM needs.  And in hindsight, I probably underestimated the impact the employee buyout packages are having on the industry. 

Sure, the automakers still have too much plant capacity.  But the "manned" capacity has been redu ...

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