GM CEO schedules visit to Kansas Fairfax plant (new jobs in Detroit & K.C.-K.)

[Omaha Steve]

Source: AP

KANSAS CITY, Kan. (AP) - General Motors Co. is preparing major investments at its plants in Detroit and Kansas City, Kan. - the latest signal of a potential turnaround for the automaker.

Wednesday's expected announcement by CEO Ed Whitacre at the company's Fairfax Assembly Plant in Kansas City comes a day after the company confirmed it has repaid the $8.1 billion in loans it received from the U.S. and Canadian governments.

The loan payback to the U.S. government comes five years ahead of schedule, and Whitacre said it is a sign GM is on its way toward reducing government ownership of the company.

Whitacre is expected to say that GM will invest $257 million in Fairfax and a factory in Detroit that will build new versions of its popular midsize Malibu sedan.

Read more: http://apnews.excite.com/article/20100421/D9F7D45G4.html

[boomerbust]

1. No Obama Bashers

Awake yet :evilgrin:

[blue_onyx]

2. Great news

I'm happy to see investment in Detroit. That plant will also make the Chevy Volt so there's a strong future for the Detroit factory.