GM to add up to 4 weeks to some plant closings
Business in brief
From news services
Wednesday, June 10, 2009
AUTOMOTIVE
GM to add up to 4 weeks to some plant closings
General Motors says it will add as many as four weeks to the temporary closures of seven assembly plants because of the continued U.S. auto sales slump.
Spokesman Chris Lee says factories in Detroit, Lansing and Orion Township, Mich.; Lordstown, Ohio; Shreveport, La.; Oshawa, Ontario; and Spring Hill, Tenn., will see additional closure weeks in July and August.
The move comes as GM tries to control the supply of cars and trucks on its dealer lots. GM had a 92-day supply of vehicles at the end of May. A 60-day supply is considered to be optimal.
Former AT&T exec to be chairman of new GM
A former CEO and chairman of AT&T will lead General Motors’ board after the automaker emerges from bankruptcy protection, GM said Tuesday.
Edward Whitacre Jr., 67, will replace Kent Kresa, who will remain interim chairman until the automaker emerges as a new company that’s majority-owned by the U.S. government.
Whitacre was chairman and chief executive of AT&T and its predecessor companies from 1990 to 2007. During his tenure, he led the company through several acquisitions and sales.