General Motors Corp., anxiously awaiting a government loan so it can continue operations into 2009 said Wednesday it will halt one of its most important projects to save money should a Washington bailout fall through.
The cash-strapped automaker is putting the breaks on the construction of a factory in Flint, Mich. set to make 1.4 liter engines for the Chevrolet Cruze and Chevy Volt plug-in electric car.
The move comes as GM scales back on just about everything, from corporate sponsorships to vehicle production and utility costs — even pens — to save every cent it can to stay afloat.
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