REPORT: GM planning up to nine-week summer shutdowns

Mook

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This is what bringing a behemoth back down to the proper size looks like. General Motors is looking for every way to conserve its ever thinning supply of money, and while April sales were better, the overall picture is decidedly grim.

In a move to conserve resources and hopefully help clear up any inventory buildups, AFP is reporting that The General plans to idle most of its domestic plants this summer – for as long as nine weeks. GM is expected to let its employees know first before any official statements are made, but it is believed that the work stoppage will coincide with GM's normal July shutdown, though there could be staggered closures as early as May.

If GM does put its operations into a large-scale hover, it may have a ripple effect on suppliers, many of whom are also holding on by the slimmest of margins. Will the summer be a season of cascading furloughs and bankruptcy announcements? Let's all take a deep breath as we wait to see.
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Eagle

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I just read this shit on the elevator news too... wonder if its really out of necessity or if its a show of how bad things will get if they are shut down.
 

sickmint79

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i guarantee you it is out of necessity.

it is also stupid for taxpayer sickmint79 to pay for joe gm's salary when the free market dictates that joe gm's job is no longer needed. it makes sickmint79 poorer and joe gm not get a job that the market actually wants. bailing out anyone just to keep them working = complete economic failure.

at most, if an organization is crazy big, the taxpayer should assisst in bankrupting them slowly and orderly rather than a shock all at once.
 

Smoke

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The market has voted with its wallets that GM is irrelevant.Allowing it to declare bankruptcy and be broken up as Circuit City and Sharper Image have been liquidated is the best course of action.Im sure the employees of the above companies can argue that their kids need to eat just as badly as the UAW's children.

Catch is, Circuit City and Sharper Image employees weren't a major political force. The UAW and GM employ millions-millions who will remember losing their jobs when they vote in 3 years, despite the sad truth that those jobs were forfeit long ago.

Hence the bailouts, negotiations, and 'restructuring' talks. When Enron went down due to blatant criminal actions, the employees didnt get 'restructuring' options.

But hey, thats 'change' for ya.
 

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