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Thread: GM $2 Billion Expansion

  1. #1
    Havakasha is offline

    GM $2 Billion Expansion

    For those "absolutists" that think govt is all evil and trashed the govt's attempt to rescue the auto companies this article is for you.
    Yeah, John has common sense alright S&L. You guys deserve each other.


    GM's $2 Billion Expansion: Sign US Auto Makers Are Back
    Published: Tuesday, 10 May 2011 | 10:04 AM ET Text Size
    By: Phil LeBeau
    CNBC Correspondent

    This is one of those days the US auto industry should savor.

    Just two years after being bailed out by the US government, General Motors is announcing today that it will spend $2 billion to add approximately 4,200 jobs at 18 plants in eight states.

    This follows a horrific decade of closing dozens of plants and slashing hundreds of thousands of jobs.

    The investment is a welcome shot in the arm for US manufacturing. But this is about more than just adding jobs. It's about re-tooling to make GM more competitive.

    Some of the money will go into next generation power trains built in plants like the GM facility in Toledo, Ohio. Some of it will go into GM final assembly plants in Arlington, Texas, Kansas City, Kansas and elsewhere. You get the point, GM is gearing up for the next generation of cars and trucks.

    This will inevitably lead to questions about whether GM is leading a renaissance in the US auto industry. After all, Ford and Chrysler have also announced they are adding thousands jobs and sinking hundreds of millions of dollars into their plants. Renaissance might be a bit strong.

    But make no mistake: the Big Three are taking the next step in a revival for Detroit that should continue for the foreseeable future.

    GM, Ford and Chrysler are all profitable and expect to stay profitable. And they are putting out perhaps the best cars and trucks they've ever built. Their quality, styling and fuel economy are all improving. That will keep buyers coming back to the showroom and give Detroit's automakers the momentum to grow their business.

    Will GM, Ford, and Chrysler ever get back to the point where they were in the late '90's where they employed more than 400,000 workers in the US?

    No. Back then there were too many plants building too many cars and trucks for too few buyers. Today, the industry has right sized itself at approximately 170,000 workers and even as it grows in the next 3-4 years it's only expected to employ just over 200,000.

    But after all that's happened in the last decade, Detroit (and the US) will take it.

  2. #2
    SiriuslyLong is offline
    Guru
    SiriuslyLong's Avatar
    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    Thanks for the good news Lloyd!!

    Sorry for your misunderstanding. If you take the time; you'll get it right.

  3. #3
    Havakasha is offline
    That's not good news for an "absolutist" opposed to anything govt gets involved in.
    I understand your need to invite John and his "common sense" to post more in order to inform you of the "truth."

    Boy he was sure right about GM, the stock market, etc. LOL.
    Last edited by Havakasha; 05-10-2011 at 11:19 AM.

  4. #4
    SiriuslyLong is offline
    Guru
    SiriuslyLong's Avatar
    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    Stop being argumentative for the sake of being arguementative with a incorrect perception for being argumentative. It's not fun. It's not funny.

  5. #5
    Havakasha is offline
    It aint incorrect i believe.
    I have heard you repeat your mantra about gov't being evil OVER and OVER and OVER.

    Acknowledge that President Obama made the correct choice in helping to bail out GM! if you want to discuss the content i posted on this thread.

  6. #6
    SiriuslyLong is offline
    Guru
    SiriuslyLong's Avatar
    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    I don't accept your ultimatum. It's well, gay.

    Now listen carefully. I live in Ann Arbor Michigan (near Detroit), and I sell plastic. It just so happens that about 60% of our sales are to automotive companies. If the 2 car companies were not "saved" I would be in a $hitpile of hurt as well as many other good people here in MI. Does this say ANYTHING to you?

    You confuse the issues. I have been opposed to the the stimulus package not the car companies getting bailed out.

  7. #7
    Havakasha is offline
    No ulitimatum. Just say what you think. It was a correct decision or not?
    I know its hard to utter the words "Obama made the correct choice", but i
    promise you its really not difficult, and i think you will unburden yourself and feel the better for it. lol

    "It's well, gay." NOW thats a sign of some real maturity.
    Last edited by Havakasha; 05-10-2011 at 01:48 PM.

  8. #8
    SiriusProfits! is offline
    Junior Member
    SiriusProfits!'s Avatar
    Joined: May 2011 Location: Lone Star State Posts: 11
    I for one can see both sides but for me I think bailing out these companies were a mistake. We are not holding these companies accountable but rewarding them for failure and misusing the peoples money. I also believe that since GM is such a big contributor for the democratic party, Nobama had to much pressure not too help them out. Unions can be good but they can get to big and ruin it all for the rest of us. What ever happened to a honest decent wage in these factories, it seems japan pays their people around $35hr were we pay ours over $100hr. Economics will show that something has to give in the long run.

  9. Ad Fairy Senior Member

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