Modern Camaro Forums banner

1 - 6 of 6 Posts

Premium Member
11,842 Posts
Discussion Starter #1
On Wednesday General Motors Chairman and CEO Ed Whitacre is expected to travel to the company's Fairfax, Kansas assembly complex to announce two important issues for the automaker. On the top of Whitacre's agenda is the announcement that GM will complete the payback of all of the company's $6.7 Billion in loans to the United States government. Additionally, GMI has been told Whitacre will be announcing an expansion to the Fairfax facility.

Whitacre has been vocal that GM would be able to pay back the total of the loans way ahead of the projected 2011 payout time frame; however the earliest he was stating publicly was June. According to GMI sources, the actual payment of the final $4.7 Billion to the U.S. government will actually be made late tonight, with the announcement not happening until Wednesday at Fairfax.

According to GMI sources, Whitacre will also announce an investment into the Fairfax, Kansas assembly plant. The investment will likely call for an expansion of the facility and the creation of new jobs at Fairfax. The plant currently builds the Chevrolet Malibu and Buick LaCrosse. The investment is rumored to be in reference to the next-generation Malibu, which is likely to be built at Fairfax and GM's Detroit-Hamtramck plant.

This will make the fourth investment GM has made into the Fairfax plant in the last four years.

From: GMInsideNews
1 - 6 of 6 Posts