quarter profits for this year in the amount of $865 million. This is much
better than expected and great news not just for the stock holders and the
government who gave them a $50 billion bailout package not so long ago. It's
great news for employees and would-be employees looking for work in 'motor
city.'
results, stay tuned for our 2nd quarter. You will like it, it will be
impressive."
Not so long ago communities were angry about the closure of some plants, and
dealers were frustrated about the decision to close a lot of it's franchises.
Now things are looking very different indeed. Now dealers are upset because GM
can't build enough cars to cover demand, and suppliers are stressing out
because of GM's increased production. The unofficial word is that a new GM
plant will be opening soon to cater for just this.
In addition to this, President Barack Obama declared that the US car industry
is not just rebounding from recent problems, but on it's way to being No.1 in
the world again - a bold statement!
Further reports from the President said that the big three auto manufacturers,
Ford, Chrysler and GM (all of which have huge operations in Detroit and surrounding cities,) were all operating at profit again.
A new deal between the government and Ford to lend them a $250 million bank
loan to help export cars overseas, is expected to be repaid within 1 year
including interest and charges.
The motor industry plays such a huge role in Detroit and it's neighboring
towns. With this bright outlook and the government's commitment, we can see
why Detroit is one of the strongest recoveries economies in the US.
Perhaps we're all gonna be seeing the words "made in America" inprinted behind
our rear view mirrors before long!
For more information and advice about investing in Detroit property through
UPI, please contact me direct at ollie@usapropertyinvestor.co.uk or call me
direct on +44 (0)7807 520 502.
Ollie Booth
ollie@usapropertyinvestor.co.uk
+44 (0)845 438 0634
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