DETROIT (AP) — General Motors Corp.’s efforts to hoard cash and outlast a prolonged economic slump claimed the jobs of more than 2,700 workers Monday as the automaker announced the demise of factories in Michigan and Wisconsin.

GM said it would shutter a metal stamping factory in the Grand Rapids suburb of Wyoming by the end of next year, and it also sped up the closure of its Janesville, Wis., sport utility vehicle plant, with most of that facility shuttering Dec. 23.

I am sick about whats happened here, said Greg Golembiewski, president of the United Auto Workers local at the Wyoming factory, who thought the plant was safe because of its safety and productivity awards. I am devastated. I’d like not to believe what I heard today. It’s like a bad dream.

The moves came on a day when GM’s stock finally showed signs of life after a catastrophic drop last week. The automaker’s shares jumped $1.62, or 33 percent, to $6.51, after hitting $4 Friday, their lowest level 59 years.

Go get the new article and read it… you can thank me later. Here’s the link: GM to close stamping plant near Grand Rapids

Posted by Carlos Sagastume on October 13, 2008. Filed under HUD Homes. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry