DEE-ANN DURBIN, AP Auto Writer. "DETROIT - General Motors Corp. will eliminate 30,000 manufacturing jobs and close nine North American assembly, stamping and powertrain plants by 2008 as part of an effort to get production in line with demand.
GM has been crippled by high labor, pension, health care and materials costs as well as by sagging demand for sport utility vehicles, its longtime cash cows, and by bloated plant capacity. Its market share has been eroded by competition from Asian automakers led by Toyota Motor Corp. GM lost nearly $4 billion in the first nine months of this year. "
Sad news for my boys at the Doraville plant. They began a production slow down in August, and they will cease production at the end of the currents products life cycle in 2008.
Now, although people are debating the war in Iraq. The pressure should also be on Bush to come back from his Asian tour with a gameplan to stop our American powerhouse employers like GM from closing plants and laying off so many Americans.
Like I said before...although we love Wal-Mart. But as a Christian, I will not support it this year, but it's position with South Korea is in a proportionate ratio with American job loss. Remember GM Daewoo have plants in Asia(South Korea) and Wagner just met with Watanabe this month to create a Toyota/GM alliance:
"As a way to raise restructuring funds, GM sold 8.7 percent of the 20 percent stake it holds in Fuji Heavy Industries Ltd. to Toyota in October for 35 billion yen."
Good thing I speak Japanese. Now if I can sit down long enough to learn Mandarin. I'll be good to go. What about you?
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