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GM Takes Painful Measures to Avoid Another Near-Death Experience

  • Barra moves to cope with drastic change while economy strong
  • Automaker to cut plants, jobs and slow-selling car models
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Krebs of Autotrader talks about GM’s decision to cancel production at U.S. factories and cut thousands of jobs.(Source: Bloomberg)

What’s good for America hasn’t been so good for General Motors Co.

With gasoline prices falling and new electric cars beckoning, consumers are abandoning the conventional sedans that have defined the U.S. auto industry since the days of Henry Ford. Scarred by a financial crisis a decade ago, GM is moving unusually fast this time to reckon with the new reality, and Wall Street is applauding the move.