What’s good for General Motors might be good for the rest of the auto industry.
Last week’s deal with the United Auto Workers could pave the way for a string of contract renegotiations in favor of the companies and not the laborers. With American Axle and Manufacturing expected at the union bargaining table this coming February, now might be the time to pick up some of the company’s stock, Cramer said.
Like GM , Axle would also benefit from a joint-healthcare program. Cramer said it could cut Axle’s $507 million in liabilities down to $355 million.
The bottom line? “The best pin action off of GM crushing the UAW is Axle,” Cramer said.
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