More On General Motors

AP and Fox is now confirming the story and have it on the Internet. Is not confirmed from GM officially yet.

From AP and FOX:

http://www.foxnews.com/story/0,2933,517498,00.html

Two people briefed on the plan say General Motors Corp. will close most of its U.S. factories for up to nine weeks this summer because of slumping sales and growing inventories of unsold vehicles.

The people did not know exactly when the shutdowns would occur, but both say they will include the normal two-week closure in July to change from one model year to the next. Neither person wanted to be identified because workers have not been told of the shutdowns.

GM spokesman Chris Lee would not comment other than to say the company notifies employees before making any production cuts public.

Breaking News

Fox News is currently carrying a Breaking News Alert that General Motors may close US Plants for up to 9 weeks this summer. More to follow on this one. I can't find this report online yet. If this is true, this is going to be bad.

The below article from the WSJ has some more info on GM.

http://online.wsj.com/article/BT-CO-20090422-717345.html