GM to shut down production for 9 weeks
04-22-2009, 06:45 PM
#1
Tech Contributor
Thread Starter
GM to shut down production for 9 weeks
I just read a story that GM will shut down many of its plants for 9 weeks this summer to reduce existing inventory.
04-22-2009, 07:48 PM
#3
Team Owner
Does not look good, I think chapter 11 is in their future real soon.
04-22-2009, 07:57 PM
#4
Safety Car
04-22-2009, 08:14 PM
#7
Team Owner
Member Since: Aug 2007
Location: I live my life by 2 rules. 1) Never share everything you know. 2)
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St. Jude Donor '11-'12-'13, '16-'17-'18
And the government takes GM common stock as repayment of their debt.
And to think some actually thought the opinion about "Government Motors" was a joke.
And to think some actually thought the opinion about "Government Motors" was a joke.
04-22-2009, 08:21 PM
#8
Le Mans Master
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To little to late!! GM should have been shutting down plants a lot sooner. Looking at current vette inventories can't understand why BG wasn't shut down already for AT LEAST that amount of time! 
04-22-2009, 08:23 PM
#9
Le Mans Master
Elections have consequences and this last one may be the worst mistakes America has ever made.
Last edited by Vette Suspension; 04-23-2009 at 04:35 PM.
04-22-2009, 08:53 PM
#12
Safety Car
Right now... 2 weeks on; 2 weeks off until the 2010 hits production.
04-22-2009, 09:46 PM
#13
Team Owner
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St. Jude Donor '15
"In honor of jpee"
I heard and it could be wrong, that it would be all plants for nine weeks. Maybe that's drastic. I surely don't know.
04-22-2009, 09:52 PM
#14
Melting Slicks
Sadly, it makes sense. Why pay people, suppliers and vendors to build cars that nobody is buying? A sad situation. Bye-bye Pontiac, maybe Buick and GMC. RIP Oldsmobile.
04-22-2009, 09:56 PM
#15
Race Director
Instead of GM seeing the light at the end of the tunnel, its seeing the dark at the end of the tunnel. Hard to see how they pull out the troubles and be anything close to what it once was.
04-23-2009, 12:51 AM
#18
Melting Slicks
GM Bankruptcy
From what I read today, GM has a Bond payment due on June 1. If they dont make that payment it will = Bankruptcy time. So, it sounds like Bankruptcy on or shortly after June 1. I am no expert, this is just what I read today.
04-23-2009, 01:43 AM
#19
Safety Car
It's bankruptcy if they don't make that payment or restructure the bond payments. And since they can use bankruptcy as a carrot (or the stick), they might be able to restructure it.
