Wednesday, July 16, 2008 1:53 pm

The Bowling Green Daily News is reporting that the move by GM to restructure after the stock went below $10 a share for the first time since 1954 will affect the Bowling Green Corvette plant there. The plan calls for a $10 billion dollar cut in costs. GM has $24 billion cash on hand. It is trying to sell the Hummer brand and will cut 20% of its 40,000 salaried employees.

 Sales of Corvettes slipped from 3055 deliveries in June 2007 to 2082 in June 08.  A plant spokesperson said that the plant will be affected by the salary reduction and by many other of the items in the restructuring plan.