GM puts brakes on Mich. factory that will build Volt engine as it tries to preserve cash

[JohnWxy]

http://hosted.ap.org/dynamic/stories/G/GM_PLANT_DELAY?SITE=WASJC&SECTION=BUSINESS&TEMPLATE=DEFAULT

DETROIT (AP) -- General Motors Corp., anxiously conserving cash so it can keep operating into 2009, said Wednesday it would halt construction of a plant tied to one of its most important projects while the automaker awaits a Washington bailout.

GM said it is putting the brakes on the construction of a factory in Flint, Mich., set to make 1.4-liter engines for the Chevrolet Cruze and the Chevy Volt plug-in electric car.

It's just one more effort by GM to hold on to every penny possible as it speeds closer to the day when the 100-year-old industrial giant won't be able to pay its bills.



http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=114x51227

[madrchsod]

1. there`s going to be a moment on jan 20,2009 when everything changes

there`s a new day coming in america

[sarcasmo]

2. This is so upsetting. Don't build something that will make you money.

My State of Michigan is finished. We are already borrowing money from the Federal Government to pay our unemployment checks.

[JohnWxy]

3. George dicks around while the auto industry (and then the whole economy) goes down the tubes.

a modern Nero. He'll go down in history as our most destructive president. He acts like he doesn't care. And why should he, he wasn't elected by the people, he was appointed by Scalia and followers.

[IrateCitizen]

4. Ummm... you have seen their share price recently, haven't you?

GM has no money. They could very well be bankrupt in less than a year.

But hey, they'll figure out a way to sell thousands of new (expensive) electric cars at a time of economic uncertainty where there is little credit to be had.

This is what happens when entropy begins to take hold in a system. Things don't work the same as the models you use to describe them, because old assumptions no longer apply.

Like endless economic growth.