Hey Hoosiers, interested in a microcosm of the market? Need look no further than our own backyard…see for yourself:

GM announced a potential expansion in Fort Wayne, IN – (see also my previous post) ~ Good news, right?

Highlights:

  • General Motors’ plant in Fort Wayne is in the running for a proposed $46 million expansion as they close plants as part of its reorganization under federal bankruptcy laws
  • GM seeks a 10-year tax break on $27 million in equipment needed for the expansion
  • Investment would help retain about 50 positions but not expected to create addl’ jobs
  • Said expansion would allow a second shift at the Fort Wayne plant to continue operating
Earlier this week, NCR Corp announced they’re also expanding…
~ Internationally to Brazil

Highlights:

  • NCR will spend about $37.6 million to build a new manufacturing and research and development center in Brazil to make ATMs for Brazil, Latin America and Caribbean markets.
  • The company said the new facility will be up and running by December and will create 250 jobs.
  • Plans for the expansion come about two weeks after NCR (NYSE:NCR) announced plans to move its headquarters to Duluth, Ga., from Dayton.
  • NCR also will establish a new North American ATM manufacturing facility in Columbus, Ga., creating 870 jobs (Dayton area loses approx. 1300)

Here’s a Quick Comparison:

  • NCR deal is nearly $10 MILLION LESS
  • NCR simultaneously building an Intl facility and moving HQ to Atlanta area
    • GM simultaneously closing plants as part of bankruptcy
  • NCR presumably maintaining production with literally hundreds fewer employee’s
    • Atlanta will appreciate the approx 900 new jobs
  • NCR plans to go from a Green Field to a functioning manufacturing facility, on the other side of the planet, including identifying, recruiting, hiring and training approx 250 people, by the end of calendar year 2009.  (WOW)
    • GM will create ZERO jobs and indicate this will help retain 50 existing employees
  • FINALLY, and this really sums it all up for me…please note the individual referenced as well as their quote representing each of said organizations, as follows:
    • United Auto Workers Local 2209 President Orval Plumlee said possible investment couldguarantee the plant’s future for years to come and eventually create jobs in the area”
    • CEO Bill Nuti said that the company has been doing business in Brazil for more than 70 years & sees the move as “yet another step in our commitment to this important market.”

(FYI: Brazil is the third-largest ATM market in the world. Retail Banking Research predicts the Brazil market will grow 16 percent by 2012)

If you were betting on a horse for this race, which one would YOU choose???   Unsure? I’d suggest you dont bet…

Advertisements

  • Apply Now, it’s EASY! Click on the Giant Binoculars!