Daily News Archives
The Abu Dhabi-based hotel chain will create more than 1,000 jobs for the UAE.
Hyundai will invest $173 million to expand and upgrade its Montgomery manufacturing plant.
GE Transportation will invest $96 million in a 900,000-square-foot facility, creating 500 jobs.
The $175-million wood pellet production facility, the world’s largest, will produce 750,000 metric tons of wood coal annually for export to European power plants.
It’s almost hard to fathom now, but back in the bitter winter of 2008-2009 we were all hunkered down and wondering when the next titanic economic shoe would drop and what it would break. The largest banks in the country were gathered in an intensive care ward at the U.S. Treasury, tethered to a lifeline from the Federal Reserve, which was funneling an infusion of cash directly from Treasury’s mammoth printing presses. The housing market disappeared into a black hole of foreclosures and collapsing prices. Two years later, it still shows no signs of life. The question looming over the U.S. automotive industry was not whether one (or two) of Detroit’s Big Three was about to sink forever into the tar pits of history, but which one would get liquidated first. In fact, we were so convinced that General Motors was toast, we wrote an obituary for the nation’s auto behemoth (http://businessfacilities.com/blog/colossus-of-roads.php) in this very space. When Congress and President Obama bailed out General Motors and Chrysler later that year, the conventional wisdom said that this was nothing more than a soon-to-be permanent federal welfare program for the United Auto Workers. General Motors would continue to wither and die, most of us said, while we subsidized assembly lines building cars that no one would buy. But a lot of us forgot something important. While America was shivering in its worst economic chill since the Great Depression, it was still filled with Americans. And Americans don’t give up. So we’re ordering a hefty helping of crow for lunch today, with a side of feathers and crow pudding for dessert. General Motors has emerged from its federally assisted bankruptcy restructuring not only firing on all cylinders, but revving up its engines and aiming for the top of the global automotive mountain it used to rule like an emperor. As reported in our Breaking News section this week, the U.S. auto goliath has put its house in order with a new UAW contract that dramatically cuts its production costs. It has shed dozens of redundant plants and dealerships. Now it is preparing to transform its U.S. production network into a lean, mean automotive machine with a $2-billion upgrade of 17 plants in eight states. The plant upgrade alone will secure 4,000 jobs, a third of which will bring workers off the unemployment lines and back onto the assembly lines. Profits are surging at GM ($3.2 billion in just the first quarter of this year) and domestic market share is being recovered (up to […]
The auto giant will spend $2 billion to refurbish facilities in eight states, creating or saving more than 4,000 jobs.
The swollen river has crested 14 feet above flood stage, just a few inches below the record set in 1937, prompting federal officials to declare a disaster in Shelby County.
The Internet retail giant will add 400,000 square feet to its Phoenix facility, creating hundreds of new jobs.
The Canadian food manufacturer will set up shop in Lebanon, IN, creating up to 300 new jobs by 2013.
President Obama came to New York City today to lay a wreath at the World Trade Center site in memory of those who perished in the September 11 attacks.