video Business
Trump applauds Ford investment plans
Tuesday, March 28, 2017 - 01:23
Ford says it will invest $1.2 billion in three Michigan facilities and create 130 jobs in projects largely in line with a previous agreement with the United Auto Workers union. Fred Kataymam reports.
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Ford announced it will invest $1.2 billion in three Michigan facilities and create 130 jobs. The money will be used to upgrade a plant in Wayne and hire and retain workers at a plant in Romeo. Ford will also invest in a data center in Flat Rock. The plant projects were part of 2015 negotiations with the United Auto Workers, when Ford said it would invest $9 billion in U.S. plants over four years. Ford's announcement on Tuesday came just hours after U.S. President Donald Trump tweeted: "Major investment to be made in three Michigan plants. Car companies coming back to U.S. JOBS! JOBS! JOBS!" Jack Nerad of Kelley Blue Book: (SOUNDBITE) JACK NERAD, EXECUTIVE MARKET ANALYST, KELLEY BLUE BOOK, (ENGLISH) SAYING: "I think they're trying to please President Trump, but, I think, at the same time, there are really big business reasons to do what they did, and I don't think pleasing President Trump would overrule business considerations. So, I think, the two are going hand in hand here. I think, it's a good business decision, and, I think, the fact that it's also pleasing to the President, and new administration, and probably a lot of people here in Michigan and in the Midwest, is a good thing overall." The move comes at a time when U.S. new car and truck sales are at an all-time high, and investors are watching closely for signs of a possible downturn in the highly-cyclical industry.
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Trump applauds Ford investment plans
Tuesday, March 28, 2017 - 01:23
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