General Motors Corp. (NYSE: GM) has consistently said the upcoming Chevy Volt all-electric vehicle was part of a gateway to the future for the company. But it did not anticipate having to borrow tens of billions from the U.S. government in the interim before it could get that product out the door at a reasonable price with decent marketing. Add to that the complete slowdown of customers buy new cars and trucks and GM is a hurtin'.So much so that the automaker has shut down plans to make a new generation of four-cylinder engines at a plant in Flint, Mich., and instead will import what it needs to build the first generation of the Chevy Volt instead. In addition, the plant being shut down was to build smaller engines for the Chevy Cruze -- another small car GM is planning to build.
Closing Bell: Does The Market Ever Drop? (TSL, PALM, FDX, NKE, TEVA)
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EU Is Not the United States of Europe
