GM Blast From the Past 1982: (Pardon the Abbreviated Version)
GM News Announcement on August 17, 1982 - The Day of the Melt-Up
GM in Second round of Cuts, Announces Three Plant Closings
Detroit- GM announced the second round of plant closings in two days, this time the disclosure that its Cadillac Motor division will idle two parts plants here and that its Rochester Products division plans to close a plant in Tuscaloosa, Ala. About 300 workers will be affected by the closing of the Tuscaloosa plant.
GM said the closings which will affect 1900 workers, won't occur for months. The number 1 automaker's purpose in the latest retrenchment is to cut parts-making capacity because of the auto industry's long slump.
Just Monday with 1983 model introductions barely a month away, GM said it would close for an undetermined time its car assembly plants in Framingham, Mass. and Lakewood, GA and eliminate second shifts at its North Tarrytown, N.Y. and Leeds, MO assembly plants. The moves are aimed at reducing the company's capacity for certain models.
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In other news today, on August, 17, 1982, the Dow Jones Industrial Average rose to the highest single day point record ever registered of 38.81 points in the second heaviest Big Board trading day ever. General Motors climbed 4 1/4 to 45 3/8... The Dow exceeded its previous record high of 35,34 on November 1, 1978.
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Best regards, J.T. |
