The Michigan car industry will get a boost in the coming years from a hefty investment in Michigan plants. Ford today announced that they are investing $135 million in Michigan plants that they own. They estimate that this will add at least 220 jobs in assemblage and engineering.
Ford’s president of the Americas, Mark Fields, also said on Monday that U.S. auto industry sales were running in the low to mid 11 million-unit annualized rate favored by economists, a double digit increase from May 2009.
Ford, which has said it expects to be solidly profitable in 2010, plans to hire 130 workers at a plant in Sterling Heights, Michigan, to make electric drive transaxles now built in Japan. It will also add 40 positions at a plant in Ypsilanti, Michigan, to make battery packs now assembled in Mexico by suppliers.
The automaker further plans to hire more than 50 electric vehicle engineers in Dearborn and Livonia, Michigan, to develop battery packs and electric-drive transaxles for new lithium-ion battery powered hybrids planned for production in 2012.
This is a big move by Ford which indicates they are ready to get back to the work of manufacturing cars and move past the slump of recent years.
Warren Buffet, the Sage of Omaha, is known for his financially prudent decisions–right down to his still living in the family home in Nebraska. It appears, though, that Buffet, through his company Berkshire Hathaway, has purchased an alcohol distributor called Empire Distributors–and he is in the market for more.
“We expect that the Empire acquisition will provide us with a solid platform for potentially acquiring other similar high-quality wholesale distributors,” Buffett, Berkshire’s chairman and chief executive officer, said in a statement. Terms of the deal for Kahn Ventures Inc. of North Carolina weren’t disclosed.
Buffett is looking for ways to invest Berkshire’s cash after markets recovered last year and profits jumped.
Investing in alcohol seems like a safe-bet, I’d say. It seems to have been a constant commodity throughout human history, basically.
Print and ink newspapers have long been in decline, but especially since the advent of the Internet. The Internet, and search engines in particular, allows for users to access newspaper’s websites and get access to information without paying for any subscription. The meager earning the newspapers get out of online advertising does not make up for this discrepancy. Newspapers have long complained about this, indeed NewsCorp is threatening to withdraw all of their newspapers and media outlets from Google.
One of NewsCorp’s competitors is the Washington Post Company, the parent company of one of the nation’s most successful newspapers, or at least it has been traditionally. However, they just announced that they are going to close three separate bureaus by the end of this year. This may, in fact, have more to do with the recession than with the Internet–but it couldn’t have possibly helped. Of course, the event is much smaller in scope than it sounds–it will only effect a total of nine employees. Three assistants will be fired, six reporters will be offered jobs in Washington D.C., the only remaining bureau. The paper has a history of uncovering big stories in Washington D.C., so they are going back to the basic–sticking with what works–at a time when newspapers nationally are having to scale back in a big way.