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More General Motors Woes

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April 24, 2009 |Comments: 0
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GM

As has been announced, General Motors Corp. (GM) will temporarily shut 13 assembly plants in the US for up to 11 weeks. This is 40% of GM's US assembly facilities. This will affect 24,000 workers and may be a prelude to a bankruptcy on June 1. This is in addition to the layoff of 1,600 office staff.

The Treasury Department has loaned another $2 billion to GM for working capital needs. This is lower than the $5 billion that was originally requested. Stay tuned -- many changes are expected in the future.

Read the full analyst report on GM

 
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