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Which GM dealerships are closing?

General Motors said it will drop about 1,600 U.S. dealers as it struggles to slash billions of dollars in costs and debts. But our Detroit photographer Rebecca Cook reports that, unlike Chrysler, GM does not intend to release to the media a list of dealers hit by the closure plans. Chrysler disclosed in court documents on Thursday the identities of the 789 dealerships it wants to terminate under the bankruptcy process.

Affected GM dealers received letters by express mail on Friday morning informing them that the automaker did not see how it could have a “productive business relationship” after 2010.

GM is telling journalists to find out for themselves which dealerships are closing.  Our reporters around the country are working their sources and calling local dealers for information. Readers can help us. If you have any information on which dealerships face the ax, drop us a comment below or email tradingplaces at reuters.com.

from Global Investing:

Who’s next for the Dow?

Arzu Cevik, director at Thomson Reuters Strategic Research, writes:

"With Citi shares trading below $1, the first time since 1970 that a “penny stock” traded on the Dow Jones Industrial Average, it is widely expected that it will be removed from the index.

"The company was added to the Dow in 1997 when it was still known as Travelers, and the last company to be removed from the Dow was AIG last September (when its stock hovered above $1) and was replaced by Kraft Foods.

"It’s also expected that General Motors may be removed from the Dow. GM shares are trading slightly above $1 and there’s speculation it may be headed toward bankruptcy.

"There are other stocks in the Dow that are now a part of Wall Street's Dollar Menu. In fact, there are currently five Dow stocks trading in the single digit range.

"Who will take their place in the Dow? Mostly likely, another company whose stock is faring better or relatively better in this recessionary environment.

"There aren’t too many of those but if I had to guess, I’d say it would have to be a company with a strong brand name and one that is viewed as influential. Also, one whose shares aren't trading in the single digits.