Devastating News

By DEE-ANN DURBIN, AP Auto Writer Tue Nov 22, 4:06 AM ET

United Auto Workers DETROIT - General Motors Corp., pounded by declining sales and rising health care costs, said Monday it will cut more than a quarter of its North American manufacturing jobs and close 12 facilities by 2008.

United Auto Workers called the plan "devastating" and warned it will make negotiations more difficult, but some Wall Street analysts said GM's actions may not go far enough.

How sad.... Merry Christmas in pure capitalistic/global competition fashion.

Remember this when you’re running from store to store buying worthless crap so that some corporation can make revenue this quarter.