GM to shut most US plants during summer

Discussion in 'Economy' started by DavidS, Apr 22, 2009.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    Sources: GM to shut many US plants up to 9 weeks - Yahoo! Finance

    DETROIT (AP) -- Two people briefed on the plan say General Motors Corp. will close most of its U.S. factories for up to nine weeks this summer because of slumping sales and growing inventories of unsold vehicles.

    The people did not know exactly when the shutdowns would occur, but both say they will include the normal two-week closure in July to change from one model year to the next. Neither person wanted to be identified because workers have not been told of the shutdowns.

    GM spokesman Chris Lee would not comment other than to say the company notifies employees before making any production cuts public.

    GM is living on $13.4 billion in government loans and faces a June 1 deadline to restructure or seek bankruptcy protection.
     
  2. xsited1
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    xsited1 Agent P

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    It almost sounds like a strike:

    Cate Brothers
    Union Man lyrics


    Well, it's six a.m.
    I'm out on the job
    Working like a fool
    For my pay

    A big man walks by
    With a smile
    Says you got to go
    On strike today

    Hey, hey, Mr. union man
    How am I gonna pay my dues
    Or the landlord or the doctor
    How am I getting new shoes

    Cate Brothers - Union Man lyrics
     
  3. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    It could be worse.
    They could have shut down during the winter when there ain't much to do.

    Shit, lay me off for the summer and see if I care.
     
  4. Xenophon
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    Xenophon Gone and forgotten

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    Won't be long till they are bankrupt.
     
  5. Indiana Oracle
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    Indiana Oracle The Truth is Hard to Find

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    It will be interesting to watch how The Prophet's administration handles things. Am of two minds: Washington takes over all or part of the company as a green car GSE; GM sells off parts to other private companies. The latter is really going to be challenging unless GM can void their labor and dealer contracts (many of which are state-protected).

    It is going to be a real mess and Washington's projected timing of its resolution will only come to pass if they just step in and take if over.
     
  6. Terral
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    Terral Terral Corp CEO

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    Hi David:

    The US Economy is IMPLODING right on schedule (my thread + this + this), which the FED and the Treasury Department wired for destruction beginning September 18, 2008 of last year. GM has already acknowledged that no 1 Billion-dollar payment will be forthcoming on June 1 (story), which means the idiots running our Govt are dumping billions and billions and billions of taxpayer dollars down a bottomless pit of DEBT that has no bottom.

    This is what happens when you allow too much OUTSOURCING of JOBS and too many foreign nationals (legal and illegal) into the USA to 'displace' US 'Consumers' from JOBS, because the Consumer Base is being systematically destroyed out of existence. Housing prices will continue to go DOWN (story) and foreclosures will continue to escalate higher (up 46% over a year ago) amid rising unemployment (in every state) that is more than 25 percent (Marin County, CA) in many areas of the USA right now. Anybody telling you that things are getting better are idiots :)confused:), Loyal Obama LIARS :)eusa_liar:), or completely out of their cotton-picking minds :)cuckoo:).

    Shutting down GM plants will be part of 'bankruptcy' that will have ramifications (story) for all of the support companies where massive layoffs will also take place sending the unemployment and foreclosures higher and house prices even lower; as fewer and fewer Americans can afford to make an offer on your home. You are looking at the implosion of the American Empire, which will undermine the tax base and send the message to China, Russia and the Arabs that our US Dollars are worth NOTHING (China nervous about Dollar / Treasury Holdings). In case you are unaware, China has been planning to dump the US Dollar for some time now (story and story). I am putting my dollars into 'hard goods' right now in anticipation of the coming Gerald Celente-predicted CRASH (link) . . .

    [ame="http://www.youtube.com/watch?v=jCOifuVk9f4"]Listen To This Guy![/ame]

    The automakers are choking on excess 'supply,' because US 'Consumers' are broke and out of a job and have no prospects. This Greatest Depression . . .

    [ame]http://www.youtube.com/watch?v=F4zL8l0NTe4[/ame]

    . . . will be FAR WORSE than anything the USA has ever seen, because we still have between 20 and 30 MILLION Illegal Alien Foreign Nationals running around loose EVERYWHERE 'displacing' US workers from JOBS 'and' Obama and the retards in Congress want to make them all citizens (STOP OBAMA'S AMNESTY NOW)! Nobody will hire expensive American workers for construction jobs and lawn jobs and maid jobs, when they can hire 'two' illegal aliens for less than half the price 'and' nobody is enforcing the Rule of Law anyway! America is DOOMED no matter how you cut the mustard and the automakers represent a visible 'symptom' of a dying US Economy/Consumer!

    GM is gong into bankruptcy and nothing anyone does will change that simple fact, because the American Consumer Base is being systematically destroyed . . . and very much on purpose . . .

    GL,

    Terral
     
    Last edited: Apr 23, 2009
  7. sealybobo
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    sealybobo Diamond Member

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    If GM Goes Bankrupt, Obama can expect to be a one term president.
     
  8. manu1959
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    manu1959 Left Coast Isolationist

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    the airlines went bk and came back......busted the unions though.....odd that a dem pres would pump money into the auto industry to prevent a bk.....why do you think he would do that......:eusa_whistle:
     
  9. wihosa
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    wihosa VIP Member

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    Why prop up GM? Just imagine if the thousands of workers being furlowed by GM for six weeks this summer were being permanently laid off.

    Talk about a declining spiral of recession!
     
  10. Indiana Oracle
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    Indiana Oracle The Truth is Hard to Find

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    There is an earlier post on this. My view is simply that it is going to be really interesting to watch. The Prophet is in a pickle and time is working against him.
     

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