GM to Shut Most Factories for 9 Weeks

General Motors plans to shut most of its US factories for 9 weeks this summer, the AP reports. The shutdown will include the normal 2-week stoppage in July to gear up for new models, two sources said, blaming the move on slumping sales and rising inventories. GM, which has received $13.4 billion in government loans, faces a June 1 deadline to restructure its debt or face bankruptcy. (More General Motors stories.)