to spite their face. Are these people blithering idiots or are they sending a one-fingered salute to Washington? Even after Wagoner admits to the EV1 mistake they make a decision like this. I say let them fail.
http://www.freep.com/article/20081217/BUSINESS01/81217045/1014/BUSINESS01 Flint Volt engine plant on hold as GM saves cash By KATIE MERX • FREE PRESS BUSINESS WRITER • December 17, 2008 General Motors Corp., working to conserve cash as it pursues immediate financial aid from the White House, today said it has put on hold construction plans for a new Flint plant slated to build the engines for two of its most anticipated new cars: the Chevrolet Volt extended-range electric vehicle and the Chevrolet Cruze compact car. "It's temporarily on hold as we assess our cash situation," said GM spokeswoman Sharon Basel. "I don't think it's a surprise that we're studying and reviewing everything given the position we're in." Postponing project spending "has no impact on the product programs," Basel said. "We can put up plants pretty quickly." GM and Chrysler both have said they could run short of the funds necessary to operate by the end of the year. Both automakers are seeking federal loans to help them survive the global credit crunch and weakening economy. The White House is studying whether to provide aid to the automakers after Congress failed to pass a bill that would have provided rescue loans for the domestic automakers. In September, GM announced plans to build the $349-million engine plant in Flint. The planned 552,000-square-foot plant is expected to build small engines for the highly anticipated Volt electric vehicle and the Cruze, a small car expected to get better than 40 miles per gallon. Both cars are expected to launch in 2010. <end>
