The GM strike is costing the company $90 million a day

The United Auto Workers union strike at General Motors started its fourth week Monday. With no immediate end in sight, losses are mounting for both the automaker, its workers and the company's suppliers.

GM has lost $660 million so far since the start of the strike, according to Anderson Economic Group, a Michigan research firm specializing in the auto industry. But those losses are getting worse by the day.

"Daily losses started off slow at under $10 million per day," said Patrick Anderson, the firm's CEO. "However we're looking at GM losses spiraling up to $90 million daily as the strike continues into its fourth week."

Losses are escalating as GM burns through the inventory of cars and trucks that it had available for sale. The continued idling of expensive plants and equipment is also hurting GM, particularly as non-UAW plants in Mexico, Canada and elsewhere in the U.S. are also forced to halt operations because of the strike.

The two sides continued to talk Monday for the 22nd straight day since the strike began on Sept. 16. The UAW's chief negotiator said Sunday that the talks had taken a "turn for the worse" after management rejected the union's latest contract proposal. The company said it is committed to reaching a deal that "benefits employees today and builds a stronger future for all of us."

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