Developing - GM announces shutdown of all facilities until end of January 2009

Just saw on CNN that GM will shutdown all facilities until the end of January 2009.

Can't find anything on it on the web yet

Bankruptcy is only days away for GM. It appears that Bush is getting ready to use the TARP money to bail them out.


Once again, the will of the people has been usurped.

With the recent mention of the unions not paying 95% of laid off workers pay, I don't think it matters much for now. This is like an extended plant shut down for the holidays.

Most likely, many will find themselves permantly out of work by mail or the news.

Something is badly wrong and missing...


- Markets havent show any care, about anything today... Clear Manipulation!

Fri 12 Dec 2008 | 12:17 EST
DJIA 8,505.03 -60.06


And I found news from new Pentagon orders...


"The U.S. Defense Department on Wednesday said it had approved the sale to Iraq of weapons valued at up to $6 billion, including 400 Stryker wheeled vehicles, military radios, training aircraft, 20 coastal patrol boats and 140 M1A1 Abrams tanks.

The prime contractors for the vehicle sales would be General Dynamics Corp (GD.N), Honeywell International (HON.N), and General Motors Corp (GM.N)."

rinf.com...


... There is no sense, GM gets billion deals, but on its way to broke?

No, i dont think so... There is something we dont know yet, maybe ever will.

This just came up to Reuters:


Breaking News
GM is cutting production by 250,000 units in first quarter: CNBC 12:18pm EST


www.reuters.com...

I'm in automotive.

Five years ago, we had more than 400 employees over three facilities.

Today, I sit in our last remaining facility. We've got twelve people working, and that's only to ship on a limited basis.

We expected to be down for three weeks in December.

Clearly, with GM being one of our biggest customers, it will be damn quiet in here through January as well.

It is so freakin' depressing.

This came just to Fox:

Breaking News!
FOX Business Learns Treasury Department Will Provide Funds to Auto Makers


So, now we are learning about US Democracy, and how it works -

"F¤%!" the democracy and elections, and votes - "We Just Dont Care!"


www.foxbusiness.com...

[edit on 12-12-2008 by JanusFIN]

reply to post by JanusFIN


Reactionary economics..

Senate shoots down the bill, world market tanks as investors flee the Disaster Area so to speak.

This morning Bush said "ah we have TARP and no guide lines, we will share some wealth with them"

Investors thus believe stocks will RISE, so some sell, some buy, more buying then selling and you see a "green number".

nice save mr. Bush.

if they were gonna provide the bailout cash anyways whats with the whole, coming in twice for "hearings" and "negotiations" and the vote of the congress. if all that crap doesnt matter why not just declare a dictatorship and stop with all the lip service nonsense?

i was thinking, and now its becoming more obvious, that the 700 billion "TARP" bill was not about the dollar amount at all but more about the powers in provided. Some of you know that there was language in the bill that called for unlimited power without having to answer to a oversight committee, AND they have spent over 7 TRILLION so far, so the approval of congress doesnt even matter on this auto bailout, they can do whatever they want. as long as its taxpayer money who cares right?

Revolutions have been started for less than this.

I don't own a car at the moment, however I am curious what this means to
people who own a GM car.
Does this effect warranties etc and getting repairs done at GM dealers?!

I am curious to see how this unfolds.

Wait, wait, wait.......

I work for a supplier of the auto industry and we ALWAYS shut down this time of year for Maintenance. We also shut down in July for the same thing.

Most years we shut down for a week, sometimes we have shut down for two weeks. It just depends on the demand and how bad we need to fix up the plant.

The reason we shut down in July and in December is because the auto makers ALWAYS shut down in July and December.

This year my company is shutting down for three weeks. It's the longest shutdown I've ever been through, but it's not something strange or foreboding or even bizarre. We ALWAYS shut down this time of year.

This shut down is just a week longer than we usually have.

The auto industry and it's suppliers always shut down this time of year.

I'm more worried about next Friday when about 200 employee's at my plant will get a pink slip. Which one of them will come through the door shooting at people? How worried am I? They get the pink slips on Friday afternoon and I took the entire following week off. I'll probably be posting more.

The simple facts are the auto industry always shuts down this time of year. This year it's just for a week or two longer than normal.

That should be expected.

Bush to the rescue. How ironic. People criticize him night and day and he comes through to help save some, not all, jobs.

I wonder if some people will change their tone about Bush. Probably not.

Originally posted by jam321
Bush to the rescue. How ironic. People criticize him night and day and he comes through to help save some, not all, jobs.

I wonder if some people will change their tone about Bush. Probably not.

yes, but he is going against the will of the people, (it is after all, our money) and the will of congress who represent the people.

if he can wield this kind of power to bypass congress, why have the 3 branches of government? lets toss it out. Checks and balances so no one single branch becomes to powerful. toss that out too.

he might save some jobs, (until THIS bailout money runs out) then what? another bailout in 6 months?

"congress didnt approve? oh thats ok i'll give you the money."
for some reason that doesnt sound like a democracy.

I wonder if Ford will do the same. Ford is a big employer in my city, Louisville. For the first time ever, my place of employment is shutting down for two weeks in January. There is a lot of stress and fear we wont be called back. How sobering.

Originally posted by hotbakedtater
I wonder if Ford will do the same. Ford is a big employer in my city, Louisville. For the first time ever, my place of employment is shutting down for two weeks in January. There is a lot of stress and fear we wont be called back. How sobering.

i think ford will be the only one to pull out of this, they said they dont currently need bailout money, they sold off stakes in mazda and others, the CEO offered to work for a $1 per year. imo they are making some good moves.

Hey look, I used to be a staunch Bush supporter. I would defend him to the grave and not just because it was my job to do so. Over the last year or so I would guess about 6 months after I started coming here I started looking at things with different eyes. I do not support this move. It has nothing to do with a hatred for unions or anything of the sort. The bottom line is not only have the American public spoken at great length about our dislike for this bailout, but Congress actually went along for the first time in how long and agreed with us. Then Bush says whaddaya gonna do, fire me? And gives up the money. What does he care, next month he'll be retired. It isn't his mess to clean up.

reply to post by stinger94


Yeah, i could swear he's doing it just to spite the will of the people. When are we all going stand up and finally throw this SOB out of office with a foot in his ass? He doesn't deserve to go gracefully.

Shutdown doesn't necessarily mean the plant will be closed during that time, it just means they won't be making cars. I work in the chemical industry and we regularly shut down the plants for weeks or months at a time to do maintainence, put in new equipment, safety, etc. We have "turnarounds" that can last an entire summer or longer.

Not that you can't expect the US auto industry to tank when you have people doing menial labour for $75,000 a year thanks to the unions. No one gets a free lunch, we all pay sooner or later.

[edit on 12/13/2008 by Yarcofin]

seems to me the proper responce from the public is to "NOT" purchase any GM vechilies until the end of January.

Two can play that game.

If GM wants to play those games, heck, let them fail.