GM to Shut Most Factories for 9 Weeks

By John Johnson,  Newser Staff
Posted Apr 22, 2009 4:51 PM CDT
Chevrolet Malibu and Pontiac G6's are shown at the General Motors Orion Assembly plant in Orion Township, Mich.   (AP Photo)
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(Newser) – General Motors plans to shut most of its US factories for 9 weeks this summer, the AP reports. The shutdown will include the normal 2-week stoppage in July to gear up for new models, two sources said, blaming the move on slumping sales and rising inventories. GM, which has received $13.4 billion in government loans, faces a June 1 deadline to restructure its debt or face bankruptcy.