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General Motors Corp. must close plants and announce deeper job cuts as part of the cost-cutting plans it and Chrysler LLC are to submit to the U.S. Treasury in 10 days, industry experts say, but continued deterioration in the economy could still drive the automakers into bankruptcy.
GM cost-cutting plan includes plant closures, more job cuts | Freep.com | Detroit Free Press (http://www.freep.com/article/20090207/BUSINESS01/902070360/1002/BUSINESS/GM+cost-cutting+plan+includes+plant+closures++more+job+cut s - broken link)
I read this article early in the morning when it first came out.
If General Motors and Chrysler ever truly turn themselves around and start making a profit, they will come out of this mess a lot smaller.
Chrysler, if the name still exists in a few years, will be someone elses nameplate. The company will be sold off it parts (Jeep, minivans). Sadly, the company is in very bad shape, not only does the company have any money, but they don't have any technology on the market that will save them. Whereas GM and Ford may be in deep trouble, but they have small cars and hybrid technology on the market now, they have products that people are interested in, and are still large enough to make it through the storm.
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