The much mentioned strike by UAW could happen today … perhaps. The United Auto Workers leadership has set a strike deadline of 11 am today if General Motors doesn’t cave. Will it happen? Dunno. But there’s this to remember from the Wall Street Journal:

Those days are long gone, as non-U.S. auto makers within the past year have captured roughly half the U.S. market. The combination of shrinking Detroit Three sales and escalating costs for health-care and other UAW benefits is a major reason why investors have downgraded the debt of all three to “junk” status.