Amid Blight and Scavenging, ‘Old G.M.’ Plants Linger
By BILL VLASIC and NICK BUNKLEY
NYT
FLINT, Mich. — By day, hundreds of General Motors workers make pistons and other engine parts at a factory on this city’s east side. By night, gangs of thieves have repeatedly looted empty G.M. plants on the same property, and have twice fired shots at security guards.
The scene at Flint North, as the complex of mostly closed factories is known, is a vivid reminder that the automaker’s bankruptcy last year gave birth to two different G.M.’s — and that one of them is struggling in the shadow of the other.
When American taxpayers bailed out General Motors, the company was split, with the best assets going to the reorganized automaker of the same name. This new General Motors is selling cars, making money and preparing a public stock offering.
The least valuable assets, including the run-down factories in Flint, were left in the shell of the old G.M., now named the Motors Liquidation Company.
(More here.)
NYT
FLINT, Mich. — By day, hundreds of General Motors workers make pistons and other engine parts at a factory on this city’s east side. By night, gangs of thieves have repeatedly looted empty G.M. plants on the same property, and have twice fired shots at security guards.
The scene at Flint North, as the complex of mostly closed factories is known, is a vivid reminder that the automaker’s bankruptcy last year gave birth to two different G.M.’s — and that one of them is struggling in the shadow of the other.
When American taxpayers bailed out General Motors, the company was split, with the best assets going to the reorganized automaker of the same name. This new General Motors is selling cars, making money and preparing a public stock offering.
The least valuable assets, including the run-down factories in Flint, were left in the shell of the old G.M., now named the Motors Liquidation Company.
(More here.)
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