Posted
8:28 AM
by Gene
This is no good:GM will slash spending on new products in 2009. Sources in GM’s product development group say that nearly every product except a new Cadillac sedan that would compete head-to-head with a BMW 3-series in 2011 or 2012 have been delayed. Even key models like the Chevrolet Cruze compact and Malibu family sedan could be delayed, as BusinessWeek reported in this story on Oct. 23.CW has it that people won't buy from a bankrupt auto maker. How is bankruptcy much different than what GM is doing now? At least it could make peace with its creditors.