Thursday, April 23, 2009

Motor Industry: GM set to close for nine weeks during summer

Struggling U.S. carmaker General Motors is reported to be planning to close most of its factories for as long as nine weeks during the upcoming summer season in the middle of this year.

Various news reports say the decision was made because the company is facing low demand and a growing inventory of unsold cars.

GM officials have yet to confirm the plant shutdowns. But the company has scheduled talks with union leaders Thursday about its immediate plans.

A GM spokesperson Wednesday said the company will miss a June first deadline to make a $1 billion loan payment to the government.

Published by Mike Hitchen, Mike Hitchen Consulting
Putting principles before profits