GM to invest $65M in NY and Tenn. engine plants

[Hot Mega]

DETROIT – General Motors says it will invest $65 million in two plants and create or retain 163 jobs at those sites so it can make more four-cylinder engines.

GM will add capacity at its Tonawanda, NY, plant to make engines for its Chevrolet Equinox and GMC Terrain crossovers. It will invest $33 million there and create or retain 100 jobs.

GM will add capacity to build engines for its 2013 Malibu sedan at its plant in Spring Hill, Tenn. It will invest $32 million and create or retain 63 jobs there.

The investments are part of $2 billion in U.S. manufacturing investments that GM announced last month. The moves are expected to create or retain 4,000 jobs at 17 facilities.

Link...

http://news.yahoo.com/s/ap/20110617/ap_on_bi_ge/us_gm_jobs;_ylt=AjtBrRvbulhFqxRg0f76awCyBhIF;_ylu=X3oDMTJnbGVzOWMxBGFzc2V0A2FwLzIwMTEwNjE3L3VzX2dtX2pvYnMEcG9zAzE2BHNlYwN5bl9hcnRpY2xlX3N1bW1hcnlfbGlzdARzbGsDZ210b2ludmVzdDY1

 

[Will E Worm]

Good more jobs.

Bad: Not enough jobs and only four cylinder engines.




:tongue:

 

[Hot Mega]

Good more jobs.

Bad: Not enough jobs and only four cylinder engines.




:tongue:

The good: Those people will theoretically spend their new earnings on other goods and services that will cause the retailers of those goods and services to create other jobs to match the demand.

The bad: Not enough people will make this economic connection in their analysis of stories like this.



:drool1:

 

[Rey C.]

Great news for a domestic manufacturer. As for whether they build 4, 6 or 8 cylinder engines, GM seems to FINALLY be understanding the concept of pull manufacturing versus push manufacturing: make what the market demands, not what you think the market should have or what you want it to have. And right now, Americans are demanding smaller engines, in both cars AND trucks.

 

[E-Ann-Hilden]

Good more jobs.

Bad: Not enough jobs and only four cylinder engines.




:tongue:

There are new V8's coming out soon for the corvette, which will probably make it in the Camaro and V-Series Cadillac's down the road.

440-horsepower, 5.5-liter small-block V8 engine.

"GM is investing a total of $893 million to make cleaner and more efficient V8s that will power the next-generation of its vehicles that require such power.”

 

[D-rock]

While that sound good, and might be for what it does, that doesn't seem like that much at all. Really it's very small. It's not even a drop in the bucket for what we need.

We need millions and millions and millions of good new jobs, and trillions of dollars of betterment in the country to become anything decent at this point.

 

[Rey C.]

One thing to remember though, it was almost exactly two years ago that people were saying that GM was dead and that instead of the government financing it through Chapter 11, it should instead just die in Chapter 7. Many (mostly those on the extreme right) were saying that it was a company not worth saving. And yet, here they are. Still alive, and even better, finding success and actually growing. And I say that, even though I'm not a big fan of GM.

 

[D-rock]

One thing to remember though, it was almost exactly two years ago that people were saying that GM was dead and that instead of the government financing it through Chapter 11, it should instead just die in Chapter 7. Many (mostly those on the extreme right) were saying that it was a company not worth saving. And yet, here they are. Still alive, and even better, finding success and actually growing. And I say that, even though I'm not a big fan of GM.

After hitting rock bottom it's hard to not go anywhere, but up at least a little bit.

I still think the government should have just took it over themselves and ran it, if we had to bail them out.

 

[Rey C.]

After hitting rock bottom it's hard to not go anywhere, but up at least a little bit.

Yeah, but think about all the companies that go through bankruptcy and you never hear from them again. Just like some people, bankrupt companies often hit rock bottom... and just stay there. It's not uncommon for a Chapter 11 reorganization to not work out and it eventually goes into Chapter 7 liquidation. You live in (near?) Detroit, so you have a feel for how bad it was a couple of years ago. But for those who don't live in an automotive city or don't work in auto related industries, they may not realize just how dreadful the situation looked a couple of years ago. Very, very few of the people that I got to know 10 or 15 years ago are even around anymore. The majority took early retirement or buyout packages. The last time I talked to a Corvette engineer that I'd befriended (around July of 2009), he described the situation at GM as "a fat man dancing on thin ice."

I still think the government should have just took it over themselves and ran it, if we had to bail them out.

The people in the government can't even run the government. My guess is, if they tried to run a car company, half the cars would be produced without steering wheels... and the other half wouldn't have engines in them. IMO, GM had more assholes and bastards in management of any of the car companies I dealt with over the years. But I think (at least at the top), there is a different way of thinking there now. They probably still need to flush out some of the arrogant assholes that have managed to hide out in middle management, if this new success is going to last. But I'm pretty impressed with how quickly and how well they've recovered. I really didn't expect them to snap back this quickly. And like I said, I'm not a fan of GM.

So the car companies are doing OK. Just too bad that we still have "Too Big To Fail" at the banks. It amazes (and disappoints) me that we haven't gotten some bipartisan legislation to deal with that. And the American people are too busy watching Bristol P@lin shake her fat ass on Dancing with the Stars to even know that sword is still hanging over our heads.