News, GM to cut 250,000 vehicles from 1Q production. (stock, Canada, closing)

[JD59]

DETROIT (AP) -- General Motors Corp. says it will cut another 250,000 vehicles from its first-quarter production schedule by temporarily closing 21 factories across North America.

The move affects most plants in the U.S., Canada and Mexico. Many will be shut down for the whole month of January.

News from The Associated Press (http://hosted.ap.org/dynamic/stories/G/GM_CUTS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIM E=2008-12-12-12-24-55 - broken link)

[HappyTexan]

With the glut of cars in lots and docks and no buyers, this isn't such a bad thing.
Too much inventory so this shouldn't be "shock" news. There's still plenty of cars just sitting around waiting for buyers.

Even if they got a bailout they may still have to do this as they are running out of places to stock the inventory.