AP Sources: GM to close most US factories for up to 9 weeks this summer to reduce inventory

DETROIT — General Motors Corp. is planning to temporarily close most of its U.S. factories for up to nine weeks this summer because of slumping sales and growing inventories of unsold vehicles, three people briefed on the plan said Wednesday. Analysts say the company could be seeing sales decline because of talk about a potential bankruptcy.

Obama says he has no interest in running General Motors

WASHINGTON - US President Barack Obama has clarified that his administration has “no intention” of running General Motors, even as the White House forced the automaker’s CEO to resign, and demanded it to come out with a “better business plan” so that the government can think of rescuing the company.

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