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As Contract Deadline Passes, GM Workers Strike

The deadline has passed in contract negotiations between the United Auto Workers and General Motors. Some of GM's 73,000 workers across the country have begun to strike.

Even as the workers walked off the job, many said they were disappointed at the situation, having expected a new contract in place by Monday morning.

Union leaders have not said how long the strike will last. The last GM employee strike in 1998 lasted 54 days and cost the automaker more than $3 billion. This latest strike could be even more problematic for GM because the financially troubled company is not making a profit.

The sticking point in the contract negotiations is $51 billion in retiree health care costs.

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