General Motors Corp. (NYSE: GM), which keeps saying that bankruptcy will not happen on the current management's watch, is closing more plants. The automaker said today that it will be closing a Michigan stamping plant and a Wisconsin plant as well. Surprise: the Wisconsin plant is responsible for SUV production.In Michigan, more than 1,300 jobs will be lost when the automaker closes down the plant roughly one year from now. The Wisconsin plant will close in mid-2009 as SUV sales continue to slump. Even though gas prices have come down quite a bit in the last few weeks, U.S. citizens don't trust gas guzzlers any longer. If you have one and it's under water, stick with it. If you're looking for a new vehicle, you're probably not looking at an SUV.
The Janesville, Wisconsin plant will cease SUV manufacturing operations on December 23rd, but some operations will continue until June 2009 to fulfill an agreement with Isuzu Motors, Ltd.
Shares of GM are up 2% to $6.63 per share today as the market teeter-totters, giving the General a market cap of $3.76 billion at this time.
It's just unfortunate that the Wisconsin plant about to be closed is GM's oldest. It's been in operation since 1919. My, how times have changed since then.
Facebook's IPO Debacle, Day 3: Un-Friended and Dis-Liked on Wall…
Former Olympic Rower Turned to Minimalism to Pay Down $82,000 in Debt


Reader Comments (Page 2 of 2)
10-14-2008 @ 9:06PM
Jim said...
I find it funny as hell that everone says ohh no, don't raise my taxes, yet don't think about the dollar plus added on every gallon of gas due to the Iraq war over the last 7 years. I bet that adds up to more then any tax increase... lol
Also look around at your current employment..... Obama is going to raise their taxes, which means they will be laying off people..... Now look around at your current employment.... How many people have they hired recently? Are they hiring or are they trying to cut back as much as possible? Well I guess you see what I am getting at.
10-14-2008 @ 9:02PM
george said...
mramerica.
What a useless dick you must be.
10-14-2008 @ 9:07PM
george said...
Karen, Let me guess? your fat with no man and possibly a lesbian in hiding, right?
10-14-2008 @ 9:07PM
Frank said...
First Ohio now Michigan . Wonder what state will be next to fall under McCian/Bush freetrade poilcies ?Just think in 3 weeks we may see the downfall of America because of the Manchurian Candidate John McCain. What do you think they were doing in that p.o.w. camp ? It`s called brainwashing and McCain was a prime candidate. He couldnt measure up to daddy and grampa who were admirals. So he gave in and became a mole for China. Maybe thats why he always votes for most favored nation status and freetrade for them. But then again he just could be senile.
10-14-2008 @ 9:12PM
charles said...
As thier employer goes down in flames the union members and leaders will still be demanding more. The union members belief that they are entitled to a job is what is bringing Michigan to its knees. Corrurpt leaders and drones for members
10-14-2008 @ 9:08PM
nick said...
Here we go the AFL-CIO taking care of the union workers, taking all that union dues and spending it on Obama and other DEMOCRAT thugs. Looks like the big grand GM is going down the tubes, it cost thousands just to pay for the the cost to the union.
10-14-2008 @ 9:16PM
YesIAm said...
Carbuilder, part of the reason why automakers leave here is because U.S. COMPANIES PAY THE HIGHEST TAX RATE IN THE WORLD -- even with incentives! There really isn't any reason for them to stay here. Why should they stay and pay exorbitant labor costs when they can make it cheaper (and thus, be more price-competitive) somewhere else? It's not like American-quality actually means anything, anymore. There is no pride in workmanship within the Unions. All I hear about it how you think you got screwed -- by GM, by the Republicans, by the guy who bought a Lexus or a Mercedes. So, hey! Congratulations! You guys finally screwed the Big Guy ... and while we're at it, lemme ask: How's that Democrat governor working out for ya? Yeah, re-electing the Cannuck chick instead of the business man was sheer BRILLIANCE. Especially since she had done such a memorable job in her first term as governor. (Anyone see a pattern of idiocy here?)
10-14-2008 @ 9:23PM
charles said...
I believe nafta started under the clinton administration
10-14-2008 @ 9:30PM
Denise said...
its all very sad so many people are losing jobs and were just on a slide to hell its all the greed in this world its just taking its toll this is to bad to see gm have such as loss like so many others i hope we can turn it aroung but it just seems like were going down wheather we want to or not and who is to blame for all this we all are we put the people in office that controll our lives and we are the ones who give them the power i hope we all have learned from this before we vote agian if it were up to me i would scatch this election and start all over neither person running has been honest enough to earn the trust of the people...
10-14-2008 @ 9:42PM
intheknow said...
Do you remember NAFTA Ross Perot tried to tell you.But you laughed and made jokes,now your whining
10-14-2008 @ 9:35PM
intheknow said...
Do you remember NAFTA Ross Perot tried to tell you.But you laughed and made jokes,now your whining
10-14-2008 @ 9:36PM
Joan Viscounty said...
GM vehicles were never as good as Toyotas or Hondas, and the greedy unions were unsatiable. Most of their cars and trucks were gas guzzlers.
10-14-2008 @ 9:56PM
Bob said...
What do the top ten cities with the highest poverty rate all have in common?
Democrat leadership.
________________________________
Detroit, MI (1st on the poverty rate list) hasn't elected a Republican mayor
since 1961;
Buffalo, NY (2nd) hasn't elected one since 1954;
Cincinnati, OH (3rd)...since 1984;
Cleveland, OH (4th)...since 1989;
Miami, FL (5th) has never had a Republican mayor;
St. Louis, MO (6th)....since 1949;
El Paso, TX (7th) has never had a Republican mayor;
Milwaukee, WI (8th)...since 1908;
Philadelphia, PA (9th)...since 1952;
Newark, NJ (10th)...since 1907.
Einstein once said, "The definition of insanity is doing the same thing over and
over again and expecting different results."
It is the disadvantaged who habitually elect Democrats --- yet are still
disadvantaged.
10-14-2008 @ 11:15PM
NorsAmerican said...
Funny how the people who complain about lost jobs and communist conspiracy don't seem to want to blame the unions! High-paying manufacturing jobs were the problem, not the blessing! The unions made it impossible for the Big Three to respond to market forces by adjusting salaries any way but upward. True, the government made things worse when wages became automatically linked to inflation. But the unions were as dictatorial as the Politburo. The way to bring jobs back to America may be to send the union organizers to Mexico and Asia and drive THEIR labor costs sky-high till we become competitive again.
10-15-2008 @ 1:39AM
novaprods said...
MRAMERICA, what kind of a nut are you? You have got to be kidding. You have your head so far up your backside, you're seeing daylight, and hence don't recognize your own ignorance. Why don't you and your neocon, right-wing ideology get an education and seek pout the truth? Your man McCain wants the Fed to buy up all the bad mortgages and revalue them and provide affordable loans to those who were stupid and irresponsible enough to enter into bad contracts with crooked lenders, and now the Fed is going to bail them out...the govenment providing homes to the masses? That sounds like commmunism to me, but because a Republican candidate puts forth the idea, its patriotic..I think it''s idiotic!!! So when you finally grow a brain and can think for yourself, instead of being led around by the nose like the bull that creates all the crap that you do, post an intelligent response and I might listen. Until then, shut your piehole!!!
10-15-2008 @ 6:22PM
sue said...
Mr america you live truly on another planet or under a rock, you most probably voted for bush both times too!!!!!
10-21-2008 @ 4:41AM
tune said...
1 bail out money should be directly to the people with cashchecks in
direct ratio to tax they paid in the last five years or zero tax zero
welfare for five years - zero tax will take care of zero welfare in
spending & jobs. zero middle-man-governments/corporations -
spending/waste/redistribution. no need to have so many gov/corp army
maning the tax/redistribute inefficent unnecessarily created posts
that gets in the way of a decent life. mr-harvard-mba-bush can put
that in place today. see the economy boom like magic. global golden
years.
2 we are not electing a debate/plan/promise/speech - that's all talks
& by lawyers too. we are electing a
president/person/character/experience/record - mccain 08.
3 only black man can freepass to harvard/wealth/whitehouse.
freepass/affirmativeaction/blackracecard makes this housing/financial
crisis - jail them - treason.