GM invests $500 million in five Michigan factories

The details of GM's Michigan announcement are out, and as we expected, it's good news (for a change).
GM will invest $500 million in its Pontiac Assembly Center, a stamping plant, an engine plant, a transmission plant, and its Lansing Grand River assembly plant, according to the Detroit News.

The investment will cover retooling to build GM's newly redesigned full-sized pickups, and Cadillac's CTS sedan. An additional 200 employees will be required to build the pickups - jobs that will be filled with existing employees, idle workers or Delphi workers transferring back to GM.

Although the announcement is really business as usual for the automaker - retooling for new products is pretty routine - the fact that the press conference will be attended by a host of politicians, including Governor Jennifer Granholm, is a measure of how desperate the industry and everyone connected with it are for a little good news.

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