GM Plants to close…MI, TENN, DE, OH….

1/3rd of GM hourly workers fired with our 50B investment….

WSJ:

General Motors Corp. said Monday it will shutter 17 factories and parts centers by the end of 2011 as part of its plan to restructure under Chapter 11 protection.

The list includes seven factories in Michigan and plants in Ohio, Indiana and Tennessee. Two of the closures had been previously announced, including a castings factory in Massena, N.Y., which closed May 1. Three of the facilities to close are parts centers, and three factories could reopen if market demand rebounds.

The move was expected after GM cut a deal last month with the United Auto Workers as part of its effort to smooth the company’s path through bankruptcy. About 20,000 factory jobs — more than one-third of GM’s U.S. hourly work force — are slated to go under the auto maker’s plans.

The closures also include assembly plants in Orion and Pontiac, Mich., Spring Hill, Tenn., and Wilmington, Del. Stamping plants in Grand Rapids and Pontiac, Mich., Indianapolis, and Mansfield, Ohio, will close. Powertrain factories in Livonia, Flint and Willow Run, Mich., and Parma, Ohio, will close. One idled factory will be converted to a small-car plant where GM will build a subcompact.

SUB compact, as in smaller than a compact???, good grief, maybe TOTUS will give out cars with food stamps cuz I cant see anyone  buying a SUBcompact….

June 1, 2009. Tags: , , , , . Big 3, Economy, Finance, Obama Administration, Politics.

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