GM to Shutter Plants for 9 Weeks

Things will be quiet in Detroit this summer: According to the Associated Press, General Motors “is planning to temporarily 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 exact dates are unknown, but people familiar with the matter say it will be near GM’s normal two-week shutdown in July, when changes are made to the company’s models. The Associated Press comments, “The shutdown could be catastrophic to many auto parts suppliers that already are near bankruptcy due to previous production cuts. During the shutdown, suppliers couldn't ship parts to GM and would lose critical revenue.”