12 June 2003
The General rushes to rebuild
The General Motors assembly plant in Oklahoma City, severely damaged by May tornadoes, will reopen on the last day of June. GM's in a hurry, since this plant builds some high-markup vehicles: the GMC Envoy and Chevrolet TrailBlazer twins and their Isuzu Ascender cousin.
GM predicts repair costs and lost time at the plant will knock down quarterly profits by 25 to 35 cents per share, around $150 million. A crew has already come in to finish the trucks that were being built when the storms hit, and the usual two-week summer shutdown will be canceled.