The Pontiac brand is going away. So, too, are Hummer and Saturn unless a buyer (not likely) can be found. The latter two will cease production by the end of this year.
42% of GM’s dealer base will be eliminated by the end of 2010. That works out to around 2,700 dealerships.
Some 7,000 jobs will be eliminated by the end of this year, not including those from the dealer ranks.
16 GM plants will be closed permanently. Total job loss (including the 7,000 above) will be 21,000.
Unknown number of suppliers will face closure or cutbacks.
U.S. government will end up owning about 50% of the resulting GM. The UAW will get a 39% share.
If you have comments to share, send to me at [email protected].
Jim Smith