5/11/2011
GM is making major investments in Midwestern states. Jesse Russell reports.
The US auto company said it plans to invest $2 billion into 17 U.S. plants in eight states. As a result of the investment GM says it will preserve or create 4,000 jobs. The Tuesday announcement came with few details as to where which plants would be the beneficiaries of the investment. Many of the jobs will likely be offered to the 1,300 employees currently languishing in lay off limbo. The company does plan to recall all of those workers by the end of the year. Since the company left bankruptcy in 2009, thanks mostly to a controversial bailout by the Obama administration, it has preserved or created nearly 10,000 jobs. Any new positions will likely come in at the $14 per hour entry level wage as part of one of the major contract concessions agreed to by the United Auto Worker in order to help lift the company out of bankruptcy.
Jesse Russell reports.
The US auto company said it plans to invest $2 billion into 17 U.S. plants in eight states.
As a result of the investment GM says it will preserve or create 4,000 jobs.
The recent announcement came with few details as to where which plants would be the beneficiaries of the investment. Many of the jobs will likely be offered to the 1,300 employees currently languishing in lay off limbo.
The company does plan to recall all of those workers by the end of the year.
Since the company left bankruptcy in 2009, thanks mostly to a controversial bailout by the Obama administration, it has preserved or created nearly 10,000 jobs.
Any new positions will likely come in at the $14 per hour entry level wage as part of one of the major contract concessions agreed to by the United Auto Worker in order to help lift the company out of bankruptcy.
The GOP has been telling Americans for years that Democrats are anti-business, but it wasn't the Democrats who wanted to throw the automakers under the bus and let them declare bankruptcy.
Congratulations to GM for record profits and its comeback. This is good for labor and business.
We hope the automakers and dealers remember in the upcoming elections who supported them when GM and Chrysler were on their knees.
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