The economy, aided by Obama's policies and the stimulus is limping back and that should be good news. The Democrats in Congress should give Obama the leeway he needs to take this country back. They need to stop their bickerings.
As for Obama, it is time he looks into giving the auto industry some of the 30 billion that banks have returned. With Toyota having fallen flat, there is an opportunity for US automakers to fill the gap. GO US GO
And the union leaders should also back off and hand over the unions to the workers.
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GM to Invest $494 Million, Recall 565 Workers at 3 U.S. Plants
February 18, 2010, 10:16 AM EST More From Businessweek
By Katie Merx
Feb. 18 (Bloomberg) -- General Motors Co., attempting to improve the fuel economy of its vehicles, will invest about $494 million and recall 565 workers at three U.S. plants making its revamped four-cylinder Ecotec engine.
GM is spending $425 million of the total and recalling 470 employees at its engine factory in Tonawanda, New York, Kimberly Carpenter, a GM spokeswoman, said today. The Detroit-based automaker’s investment includes renovations, machinery, equipment and special tooling in Tonawanda as well as at plants in Defiance, Ohio, and Bay City, Michigan, she said.
The Ecotec is part of GM’s effort to replace larger- displacement engines to meet fuel-economy regulations calling for an increased fleetwide average of 35.5 miles per gallon in 2016.
“Four-cylinder engines are very important,” said Rebecca Lindland, an analyst at IHS Global Insight in Lexington, Massachusetts. “You can get a lot of horsepower and driving excitement with a turbocharged four-cylinder engine. The problem GM and other manufacturers face is getting everyone to believe that.”
GM also plans to invest $59 million and recall 80 jobs at a plant in Defiance and spend $10.5 million and restore 15 workers at its plant in Bay City, Carpenter said. GM wouldn’t name the vehicles that will use the new engines.
--Editors: Steve Walsh, John Lear
businessweek.com |
