With the end of employee discounts, I think there's going to be a halt of traffic to GM's showrooms. It's never a good time for a disruption like this, but GM could have had it at a worse time.
Until GM stops losing money in their core business, I wouldn't characterize them as being in recovery.
The GM board is clearly under pressure from York, who is the most significant voice for the shareholders. The board needs to make changes soon, starting with cutting the dividend.
The union better be prepared to go through another round of negotiations now. Everybody needs to contribute to keeping cost under control and getting GM turned around -- executives, investors and the salaried and union employees.