GM is closing several assembly plants that manufacture and assemble Sport Utility Vehicles. The plants, located in Michigan, Wisconsin and Ohio, build SUVs, which were big sellers in the late 1990's but have lost market share due to a slowing economy and rising gas prices. The plant closings will cost 3640 workers their jobs The Wisconsin plant closing had been previously announced by General Motors, but was originally slated for sometime in 2010.
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References
Fast Facts
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Fact:
Plants located in Janesville, WI, Wyoming, MI and Moraine, OH
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Fact:
MI Plant will close in 2009
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Fact:
WI and OH plants will close December 23, 2008
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Fact:
Four other unnamed plants will close earlier than expected, according to an unnamed source
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Fact:
GM stock hit $4 per share on October 13, 2008
