Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Motors Announces $1.3 Billion Investment In U.S. Manufacturing
http://www.forbes.com/sites/danbigman/2013/12/16/thanks-america-general-motors-announces-1-3-billion-investment-in-u-s-manufacturing/Fresh from the government’s sale of the last of its holdings in General Motors GM (+3.5%), the company announced today it will invest nearly $1.3 billion in five plants across the Midwest, creating or retaining about 1,000 jobs.
“GM is committed to a strong American manufacturing base and creating jobs in dozens of communities throughout the country. Today’s announced plant upgrades continue the momentum of a resurgent auto industry,” GM Executive Vice President and North America President Mark Reuss said in a press release.
According to the company, the plants – in Detroit, Flint, and Romulus, Mich., Toledo, Ohio and Bedford, Ind.– will produce new fuel-efficient engines and transmissions, enhance vehicle quality and streamline logistics.
The company is in the midst of a leadership transition. CEO Dan Akerson, who led the company back from a 2009 government-led bankruptcy, is retiring. His successor, 51-year-old Mary Barra is set to take the reins on January 15. She’ll inherit a company in far better shape than the one Akerson did, with 15 quarters of profitability, a refreshed product line and shares up 100% since the company’s November 2010 IPO led it back to the public markets.
(more)
