Not exactly a turn-around of the economy, or the auto industry but good news anyway .
At the least , GM's plans regarding China have gone to side , in this case anyway. >f
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UPDATE 4-GM picks Michigan for new small car plant
DETROIT/ WASHINGTON, June 26 (Reuters) - General Motors
Corp (GMGMQ.PK) will build a new small car at a plant near
Detroit in a move that will save 1,400 jobs in Michigan, but
shutter plants in Wisconsin and Tennessee.
The decision capped a month of intense lobbying aimed at
sparing local jobs as GM slashes costs and drops auto brands
and car dealers under a federally supervised bankruptcy. The announcement also moved GM closer to an attempt to make
a small car profitably in the United Sates, something
executives had long dismissed as impossible because of the
segment's tough competition and thin margins.
GM had planned initially to import its upcoming subcompact
model from China, but ran into intense opposition from the
United Auto Workers union.http://www.reuters.com/article/rbssC...32793120090626