GM Closing 4 Plants; Selling Hummer
Today, GM CEO Rick Wagoner, said GM would stop making light trucks at four plants in...
Oshawa, Ontario; Silao, Mexico, and two U.S. plants covered by its contract with the United Auto Workers: Moraine, Ohio, and Janesville, Wisconsin.
In addition, Wagoner said GM was reviewing the Hummer brand and could sell the military-derived SUV line, which has become synonymous with gas-guzzling excess.
Wagoner said GM, which has lost a combined $51 billion over the past three years, was not ready to detail a timeline for returning to profitability.
President and COO Fritz Henderson said GM was no longer confident the U.S. auto market would recover in the second half of this year as it had earlier predicted.
Oshawa, Ontario; Silao, Mexico, and two U.S. plants covered by its contract with the United Auto Workers: Moraine, Ohio, and Janesville, Wisconsin.
In addition, Wagoner said GM was reviewing the Hummer brand and could sell the military-derived SUV line, which has become synonymous with gas-guzzling excess.
Wagoner said GM, which has lost a combined $51 billion over the past three years, was not ready to detail a timeline for returning to profitability.
President and COO Fritz Henderson said GM was no longer confident the U.S. auto market would recover in the second half of this year as it had earlier predicted.
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