General Motors announced plans to invest $1.2 billion in new equipment and expansions at five Midwest factories. GM's investment, mostly in three Michigan plants, will retain or add about 1,000 jobs. The expansion plans were announced Monday, the same day a new study was released, compiled by the Center for Automotive Research in Ann Arbor, that estimated the rescue of GM and Chrysler saved 2.6 million jobs in 2009 and 1.5 million in 2010.
Ford Motor Co on Thursday stuck to its target of adding 7,000 jobs in the United States over the next two years, saying it sees an economic expansion here and not a double-dip recession. Also, fewer Americans filed new claims for jobless benefits last week than at any time since April, in what could be an encouraging sign for the labor market.
General Motors earned its largest profit ever in 2011, two years after it nearly collapsed. Strong sales in the United States and China helped the automaker turn a profit of $7.6 billion, beating its old record of $6.7 billion set during the pickup and SUV boom of 1997. GM said 47,500 blue-collar workers in the United States will get $7,000 profit-sharing checks in March.
Nissan is back, one year after an earthquake and tsunami in northeastern Japan ground auto production to a halt, left giant cracks at a key factory and killed five employees and 17 family members. It's a story of surprising recovery that's playing out at other Japanese automakers, but particularly at Nissan.
U.S. auto sales remained an economic bright spot in May, with Chrysler reporting US sales up 30 percent. Meanwhile, a monthly survey of consumer confidence showed American sentiment at its highest level in four-and-a-half years, partly because gasoline prices have dropped.
This week the Ford Motor Company announced impressive results in efforts to cut waste produced in its factories. Since 2007, the car company has slashed by 44 percent its global waste output -- a total of 100 million pounds. Expanding on the success, Ford plans to further reduce the amount of waste it sends to landfills by 10% per vehicle by the end of the year.
Gloom is giving way to a glow of optimism in two northern Maine towns as a pair of paper mills, once the lifeblood of industry there, is back, and a closely related new industry knocks on the door.
Plenty of companies bankroll good deeds, but a Japanese car company does one better, showing nonprofits how to make a bigger impact through small improvements.
Three amazing young designers from around the world have created elegant products and machines that will recycle and beautify the world, while reducing waste and emissions. Check out their designs in this BBC video.
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