Pontiac is closed
Pontiac is closed Pontiac is closed, When GM unveiled its plan for the future late yesterday, it was clear that Pontiac's days are numbered. To face the future, GM chooses to scrap Pontiac, reduce the number of factories from 47 to 34, lay off 21,000 employees, and offer its creditors shares instead of money. GM has apparently taken the criticism it received from the US government to heart. President Obama and his administration have felt that the restructuring plan previously presented by GM was not ambitious enough. When GM presented its revised plan for the future yesterday, it is clear that it is…