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  • jeyebolt2003 jeyebolt2003 Jul 13, 2011 2:36 PM Flag

    Investing in America, American Jobs

    But Toyota is investing in Canada, after bleeding the Canadain Taxpayers for $150 million.

    DETROIT, July 12, 2011 /PRNewswire/ -- General Motors Powertrain plants in Ohio and Indiana that make transmissions for Buick and Chevrolet models with eAssist fuel-saving technology will get the bulk of a $129 million investment GM announced Tuesday.

    The money is part of $2 billion being invested in 17 facilities in eight states over the next 18 months and will create or retain 4,000 jobs.

    For plants in Toledo, Ohio, and Bedford, Ind., it is a second helping of investment since May, bringing total investment at the plants to $287 million and $81 million respectively.

    "GM continually assesses its product offerings and makes adjustments to meet consumer demand," said Cathy Clegg, GM vice president of labor relations. "GM is moving quickly to get more fuel-efficient technologies into our vehicles to benefit the consumer, and these investments are an example of the speed with which we are responding."

    "Cars that get exceptional gas mileage are selling well in the United States," added Joe Ashton, vice president of the UAW, GM Department. "Today's announcement provides an opportunity for our members to build the next generation of vehicles that will offer our customers improved fuel economy. We are proud of the broad array of high mileage, low emission vehicles that UAW members build for GM.

    "We want our members to be on the cutting edge of providing the highest-value vehicles that have a minimum impact on our environment," Ashton said.

    Toledo, which earlier was targeted for a $204 investment, will get an additional $83 million for enhancements to a six-speed transmission already produced in the plant that will be used in the Buick Lacrosse beginning this fall and the 2013 Chevrolet Malibu debuting early next year. The new money will support addition or retention of 30 jobs at the plant that employs about 1,600.

    Bedford, which earlier was named for a $49 million investment, is receiving $32 million for enhancements to the die-cast case and torque converter on the six-speed transmission assembled in Toledo. Bedford's employment of 405 is unchanged by the new investment.

    Separately, an investment of $15 million to $20 million is planned that will retain 60 jobs at the GM Components Holding plant in Wyoming, Mich. The investment will support various powertrain projects.

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    • "Cars that get exceptional gas mileage are selling well in the United States," added Joe Ashton, vice president of the UAW, GM Department. "Today's announcement provides an opportunity for our members to build the next generation of vehicles that will offer our customers improved fuel economy. We are proud of the broad array of high mileage, low emission vehicles that UAW members build for GM.

      "We want our members to be on the cutting edge of providing the highest-value vehicles that have a minimum impact on our environment," Ashton said.

      Are the the same members who were sitting on their brains at a job bank playing checkers
      while gm was going down the toilet? Drawing full salaries?

      • 1 Reply to dontwaitformonday
      • The sad news about Toyota earnings. But maybe they'll use the $150 million from Canadain Taxpayers as Income on this Quarters Books

        Notice Concerning Announcement of Financial Forecasts for FY2012
        Based on our recent business results, we, TOYOTA MOTOR CORPORATION (“Toyota”), hereby announce our
        full-year consolidated and unconsolidated financial forecasts for FY2012 (April 1, 2011 through March 31, 2012)
        and consolidated financial forecasts for the first half of FY2012, which were not announced on May 11, 2011, the
        day we announced the financial results for FY2011.
        1. Consolidated financial forecasts for the first half of FY2012 (April 1, 2011 through September 30, 2011)
        (Amount: billion yen)
        Net
        revenues
        Operating
        income
        Income before income taxes
        and equity in earnings of
        affiliated companies
        Net income
        attributable to
        Toyota
        Previous forecasts (A) - - - -
        New forecasts (B) 7,500.0 -120.0 -100.0 10.0
        Amount changed (B - A) - - - -
        % of change - - - -
        (Reference) Actual results
        of the corresponding period
        of the preceding year
        (FY 2011 ended March 31,
        2011)
        9,678.4 323.1 392.0 289.1
        2. Full-year consolidated financial forecasts for FY2012 (April 1, 2011 through March 31, 2012)
        (Amount: billion yen)
        Net
        revenues
        Operating
        income
        Income before income taxes
        and equity in earnings of
        affiliated companies
        Net income
        attributable to
        Toyota
        Previous forecasts (A) - - - -
        New forecasts (B) 18,600.0 300.0 320.0 280.0
        Amount changed (B - A) - - - -
        % of change - - - -
        (Reference)
        Actual results for FY2011 18,993.6 468.2 563.2 408.1
        3. Full-year unconsolidated financial forecasts for FY2012 (April 1, 2011 through March 31, 2012)
        (Amount: billion yen)
        Net
        revenues
        Operating
        income
        Ordinary
        income
        Net
        income
        Previous forecasts (A) - - - -
        New forecasts (B) 8,200.0 -400.0 -10.0 90.0
        Amount changed (B - A) - - - -
        % of change - - - -
        (Reference)
        Actual results for FY2011 8,242.8 -480.9 -47.0 52.7

 
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