AP Sources:GM to shut many US plants up to 9 weeks

[notesdev]

DETROIT (AP) -- General Motors Corp. is planning to temporarily close most of its U.S. factories for up to nine weeks this summer because of slumping sales and growing inventories of unsold vehicles, three people briefed on the plan said Wednesday.

Analysts say the company could be seeing sales decline because of talk about a potential bankruptcy.

The exact dates of the closures are not known, but the people said they will occur around the normal two-week shutdown in July when changes are made from one model year to the next. None of the people wanted to be identified because workers have not yet 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.

One of the people briefed on the plan said details are still being worked out. Some of the closings could be staggered between mid-May and the end of July, but the exact number of plants to be idled has not yet been determined.

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http://finance.yahoo.com/news/AP-SourcesGM-to-shut-many-US-apf-15004037.html?.v=2

[lib2DaBone]

1. The summer of hell approaches....

[pa28]

2. Trimming inventory is good.

You have to wonder if this is just a cover story though. BK reorganization or liquidation would probably be quite a bit easier and cleaner if workers were off the job and production suspended.

[ixion]

3. Funny... it neglects to mention that they're going to build new plants in China

which was reported the other day.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3839768

[comtec]

4. What about their FOREIGN plants?

I'm more interested in their NON-US properties.

I'll be mighty pissed if they get all this US money and jsut use it to create foreign jobs... like in mexico!