Thursday, April 23, 2009

Temporary idling of plants could further reduce firm's revenue, analysts warn


...Most of its factories will be closed for up to nine weeks, a person familiar with the planning said. The move would likely send shock waves through the already struggling supplier industry, which does not make money when factories are not using their parts to build cars and trucks.
Thomas Pyden, a GM spokesman, declined to comment Wednesday, saying that "if and when we have production news, our intent is to share it with employees first, and we have had no such announcements."...