Hundreds of strikers rally outside American Axle meeting

Chairman and CEO Richard Dauch told the company's meeting of shareholders that he remains committed to negotiating a deal amid a strike that is nearing the two-month mark. But he said since the UAW has reached deals with competing suppliers to cut costs for the U.S. market, American Axle needs similar considerations.

"The competitors are going around us and laughing at us," Dauch said.

As he spoke at American Axle's headquarters in Detroit, hundreds of striking workers rallied outside. The workers were carrying picket signs and jeering at vehicles carrying people to the meeting.

About 3,600 members of the Auto Workers union have been on strike against American Axle and Manufacturing Holdings Inc. since Feb. 26 after failing to agree to a new contract.

At the meeting, shareholders re-elected three board members, including Dauch, to terms that run until the company's 2011 meeting. But they rejected a proposal to approve the company's 2008 long-term incentive plan.

Dauch's remarks came in response to questions from shareholders following the voting. Most came from workers who also hold stock and either were in the room or connected in a video link from a cafeteria.

Steve Conner, a 46-year-old who has worked for American Axle since 1994, asked Dauch about the strike. After the meeting, Conner said even a contract deal might not guarantee work for the plants.

"I think he's still holding the hard line," Conner said.

Talks have continued between American Axle and the union after the company issued a statement Tuesday saying the UAW has rejected wage-and-benefit offers that are better than those paid by competitors.