Why buy Japanese when Americans don't know what the fuck they're doing?

General Motors Corp on Tuesday announced a series of steps to cut jobs, costs and its exposure to slow-selling trucks and SUVs in response to a rise in gasoline prices that the automaker now sees as permanent. Chief Executive Rick Wagoner, speaking to reporters after a restructuring plan was approved by the automaker's board, said GM would close four North American truck plants and add shifts at two plants making more popular car models.
In addition, Wagoner said GM was reviewing the Hummer brand and could sell the military-derived SUV brand, which has become synonymous for gas-guzzling excess. "U.S. economic and market conditions have become significantly more difficult," Wagoner said, adding higher gasoline prices have caused consumers to swap out of trucks and SUVs faster than the automaker had expected.

In a related shift, Wagoner also said GM's board had approved funding for a next-generation compact model for the Chevrolet brand as well as a new subcompact Chevy Aveo, expected to go on sale in the U.S. market in 2010. GM's board also allocated production funding to the Chevy Volt, a heavily touted, all-electric vehicle that GM expects to have in showrooms by 2010, Wagoner said. Wagoner said GM, which has lost a combined $51 billion over the past three years, was not ready to detail a timeline for returning to profitability. Unfortunately, it's just a sign that once again they're behind the curve," said Peter Jankovskis, a chief investment officer with OakBrook Investments, which owns GM shares in some of its portfolios.

WP: Really? Ya think? So when gas prices started to dramatically rise THREE YEARS AGO, nobody thought to look ahead? How about with the 1970s oil shortage? 30-40 years not enough lead time either?