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GM to shut many US plants up to 9 weeks

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posted on Apr, 22 2009 @ 04:31 PM
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GM to shut many US plants up to 9 weeks


finance.yahoo.com

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.
(visit the link for the full news article)




posted on Apr, 22 2009 @ 04:31 PM
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Wow, i wonder if this is going to drive the cost of GM parts up? i know some are already hard to find, and most of my friends and family drive GM vehicles, this could hurt a lot of people, imagine not being able to get to work because you can't find a part for your car anywhere.

I also wonder if there will be a black market for parts en-till they turn production back on (if they do) i can imagine people stealing parts from working vehicles and saling them at a 500% mark up.

finance.yahoo.com
(visit the link for the full news article)



posted on Apr, 22 2009 @ 06:50 PM
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I'm reading the story on MSN (www.msnbc.msn.com...). This paragraph:


Thousands of workers could be laid off but would still get most of their pay because their United Auto Workers union contract requires the company to make up much of the difference between state unemployment benefits and their wages.


Sums up precisely why the auto maker is failing. The company pays their employees for doing no work and it's not even considered vacation time. The UAW - greedy to the very last.



posted on Apr, 22 2009 @ 07:16 PM
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Originally posted by sos37
I'm reading the story on MSN (www.msnbc.msn.com...). This paragraph:


Thousands of workers could be laid off but would still get most of their pay because their United Auto Workers union contract requires the company to make up much of the difference between state unemployment benefits and their wages.


Sums up precisely why the auto maker is failing. The company pays their employees for doing no work and it's not even considered vacation time. The UAW - greedy to the very last.





that's crazy, that will definitely cripple the company if they still have to send out paychecks with no product output.

maybe the powers that be are trying to force GM under?....



posted on Apr, 22 2009 @ 07:26 PM
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I don't think GM is that worried about any Union Contracts at the point that they do this shutdown as they will, without more government intervention, be in some type of bankruptcy by this Summer anyway.



posted on Apr, 22 2009 @ 07:33 PM
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And the sad thing is, that GM just received 5 BILLION more tax payers money.....just so that they can shut down and still send paychecks to their employees.



Does anyone actually still wonder why they are failing?



posted on Apr, 23 2009 @ 01:15 PM
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The pay comes from a fund that the union and company put money into. So the money is already there for what it was intended for. Only a percentage comes from that fund the rest is unemployment insurance. Now you know the rest of the story.



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