GM Plans More Than 14,000 Job Cuts, 7 Factory Closings

By Bloomberg – Re-Blogged From Newsmax

General Motors Co. will cut more than 14,000 salaried staff and factory workers and close seven factories worldwide by the end of next year, part of a sweeping realignment to prepare for a future of electric and self-driving vehicles.

Four factories in the U.S. and one in Canada could be shuttered by the end of 2019 if the automaker and its unions don’t come up with an agreement to allocate more work to those facilities, GM said in a statement Monday. Another two will close outside North America. The Detroit-based company’s shares surged on the plan, which includes abandoning some of its slower-selling sedan models.

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GM Plant Shutdown Shocks South Korea

By Thomson Reuters – Re-Blogged From Newsmax

Only weeks into a new job heading General Motors Co’s international operations, Barry Engle flew into a frigid South Korea in January and held a series of meetings with government officials to discuss the future of GM’s loss-making local unit.

In what they thought were meet-and-greet introductions, senior officials agreed to work with the global automaker on problems at GM Korea, according to South Korean officials with direct knowledge of the meetings.

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Aussie Politicians Panic Over Coal Closures

By Eric Worrall – Re-Blogged From http://www.WattsUpWithThat.com

Australia’s green conservatives are panicking that after years of political vilification, coal businesses are abandoning their plants, leaving a gaping hole in Australia’s baseload power reserves.

AGL digs in on coal plant closure as Turnbull government warns of ‘colossal failure’

Nicole Hasham James Massola
SEPTEMBER 6 2017 – 2:38PM

Energy giant AGL has issued a further snub to the Turnbull government, insisting it does not plan to sell its ageing Liddell power station nor keep it open beyond 2022.

In a statement to the Australian Stock Exchange on Wednesday, AGL said it was committed to closing the NSW coal-fired power station – Australia’s oldest operating coal plant – as planned.

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