Financial analysts hailed the move, and even union officials were at least somewhat understanding. Nonetheless, the announcement from General Motors last week sent a powerful shudder of concern through the Midwestern Rustbelt. GM Chairman Roger Smith said that starting next year the giant automaker will begin the largest pruning operation in its 78-year history. As the first stage in that cutback, GM will shut down ten of its plants and partly close another, in Michigan, Illinois, Missouri and Ohio, dismissing no fewer than 29,000 workers over a three-year period. GM billed the action as part of a $10 billion "construction and...
To continue reading:
or
Log-In
