FCA Announces $1 Billion Investment, Employee Bonus

A current-gen Ram HD pickup coming off the assembly line at the Saltillo plant

Fiat Chrysler Automobiles (FCA) has announced that it will be investing $1bn into a plant in MI, expected to create approximately 2,500 jobs.

Most recently, the company announced investments totaling $3.5 billion, with the addition of 3,700 new jobs, to strengthen its U.S. manufacturing base, and align United States capacity to extend the Jeep and Ram product lines.

Fiat Chrysler will be moving the production of its Ram heavy-duty truck from Mexico to MI and giving its workforce a substantial bonus due to tax reform.

Fiat Chrysler Automobiles said on Thursday that it arranged to disburse $1 billion to progress creation of heavy-duty pickup trucks from Mexico to a factory in MI, where it will append 2,500 new jobs. Currently, the truck is made south of the border in Saltillo, Mexico. The move from Saltillo, Mexico, will take place in 2020. The $1 billion investment in the Warren plant announced yesterday is in addition to the earlier announced $1 billion.

What's more, FCA said it would pay a $2000 bonus to 60,000 hourly and salaried employees, which the company said was made possible by a huge corporate tax cut enacted late a year ago. Tax cut money to employees is pouring into our economy with many more companies announcing.

Gaza fisherman shot dead by Egyptian army - Palestinians
Israeli Defense Minister Avigdor Lieberman commended the forces for carrying out the "professional and precise" operation. The Erez Crossing opened a day later, and Kerem Shalom was reopened on December 17.

FCA noted that the plant investment actions announced this week - the $1 billion for Warren Assembly - are subject to negotiation and final approval of incentives by state and local entities.

FCA CEO Sergio Marchionne says the company should adjust its manufacturing footprint to reflect "improvement in the USA business environment".

The automaker also plans to give its 60,000 hourly and salaried USA employees $2,000 bonuses. As president, Trump has since backed away from that threat though his administration has been demanding significant revisions to the North American Free Trade Agreement and threatening to kill the pact if it doesn't get what it wants. More than 300 new jobs were added to support production. That plant will be retooled to make future commercial vehicles for global export which takes advantage of Mexico having more trade agreements than the U.S. The payment will be made in the second quarter and is being paid in addition to profit-sharing or performance bonus payments.

Vice President Mike Pence, in a tweet, hailed the decision.

The stock jumped more than 20 percent last week on a bullish outlook for the auto sector and media speculation that Chief Executive Sergio Marchionne's final year at the helm could prompt strategic deals such as spin-offs, technology alliances and disposals. There was no breakdown by facility, but that billion-dollar investment will also add 2,000 jobs between the two plants.

Related News:

  • Lakers Could Have Interest In David Fizdale

    Lakers Could Have Interest In David Fizdale

    And sure, those comments may have come via LaVar Ball, but the team didn't issue support for Walton to shoot them down. Kuzma's basket on a strong drive gave Los Angeles a 29-27 lead just before the first-quarter buzzer.

    Stryker Corp (NYSE:SYK): Institutional Investor Sentiment Down to 0.87

    We can gain important insight by taking a look at institutional ownership, as detailed in public companies' latest 13F filings. SYK's financial leverage ratio is 1.06, which indicates that the company's asset base is primarily funded by equity capital.
    Astros trade for Pirates ace Gerrit Cole

    Astros trade for Pirates ace Gerrit Cole

    Martin isn't well-known, but he hit.278/.332/.487 with 18 homers and 16 steals between High-A and Double-A last season. Cole will slide into a rotation that features Justin Verlander , Dallas Keuchel , Lance McCullers and Charlie Morton .
  • Peel Hunt Reiterates "Buy" Rating for Alumasc Group (ALU)

    The stock of The Clorox Company (NYSE:CLX) has "Hold" rating given on Thursday, October 5 by KeyBanc Capital Markets. The stock of Jupiter Fund Management Plc (LON:JUP) has "Hold" rating given on Wednesday, July 26 by Shore Capital.
    Nobody has torched the Raptors like Stephen Curry

    Nobody has torched the Raptors like Stephen Curry

    DeMar DeRozan's layup moved Toronto to within 121-119 with 2:08 left but Durant countered to give the Warriors a four-point lead. But Toronto will have to settle for the moral victory after what looked like a would-be embarrassing loss at halftime.
    Patriots get WR Hogan back vs. Titans

    Patriots get WR Hogan back vs. Titans

    The 27-year-old carried the ball 64 times for 264 yards and five touchdowns this season. Bademosi is a odd inactive, as he was active for every game this season.
  • Sears (SHLD) Upgraded by BidaskClub to Sell

    Since January 8, 2018, it had 0 buys, and 1 sale for $7.38 million activity. 116 funds opened positions while 640 raised stakes. It increased, as 20 investors sold SHLD shares while 30 reduced holdings. 18 funds opened positions while 18 raised stakes.
    Angelina Jolie Steps out With Injured Daughter Shiloh in New York City

    Angelina Jolie Steps out With Injured Daughter Shiloh in New York City

    On Sunday night Angelina Jolie brought along her second eldest and third adopted child, 14-year-old Pax to the Golden Globes . It was previously reported that Shiloh broke her collarbone on December 29 during a family trip in Lake Tahoe .
    Chelsea boss Antonio Conte fires back at Man Utd manager Jose Mourinho

    Chelsea boss Antonio Conte fires back at Man Utd manager Jose Mourinho

    If somebody speaks of one of my players to tell we are interested, I wouldn't be very happy. Rumors of Conte's exit will continue because that's what rumors do.
  • Big 12 Week 3 Preview: Texas Tech and Kansas

    Big 12 Week 3 Preview: Texas Tech and Kansas

    Here's the list: at No. 8 Texas Tech, at home versus No. 12 Kansas and Texas, at No. 16 TCU and at home against No. 21 Kentucky. Bill Self's team took care of Iowa State in Lawrence on Tuesday night, and this weekend, the Jayhawks will host Kansas State.
    More Questions After FBI Releases Vegas Shooting Files

    More Questions After FBI Releases Vegas Shooting Files

    Much of what investigators found in the hotel room had already been made public, but the search warrants add additional details. The search warrants covered electronic accounts of Paddock and his girlfriend, Marilou Danley.
    Trump to issue final Iran deal waiver, officials say

    Trump to issue final Iran deal waiver, officials say

    Iranian Foreign Minister Mohammad Javad Zarif has criticized President Trump, saying the nuclear deal is not renegotiable. The US president is required to renew the existing deal every 120 days under American law.


Most liked

Manchester clubs tightlipped over move for Alexis Sanchez
As a manager you have a lot of words to deal with and you have to choose which ones you want to be focused on. City offered Arsenal $27.3 million for Sanchez during the January transfer window, according to the report.

Hands on: Google Assistant's new 'smart displays' are a must-have
The company largely invented the modern smart-speaker category with the summer 2015 launch of the cylindrical Echo speaker. Along with these devices also a list " smart displays " were displayed.

Chelsea Manning Files for Maryland US Senate Seat
Manning was released from a Kansas military prison last year, after serving seven years of the 35-year sentence she was given. Cardin's campaign had about $2 million on hand as of September 30, according to federal campaign finance records.

Tottenham boss Pochettino: Players now becoming companies
Pochettino fears Premier League stars are now becoming "companies" with the circus around them more influential than their clubs. Levy also conceded that it is hard to get business done in the winter transfer window.

I'm alive and kicking - Ibrahim El-Zakzaky
The Federal Government has refused to obey the ruling of a Federal High Court which ordered their unconditional release in 2016. The IMN leader and his wife were arrested on December 14, 2015in Zaria following a clampdown on Shiites by the Nigerian Army.

Ed Sheeran, Dua Lipa lead Brit Awards nominations
The British Group category has five contenders: Gorillaz, London Grammar, Royal Blood, Wolf Alice and The xx. Grime star Stormzy, singer Rag'N'Bone Man and rapper J Hus join her and Sheeran for the best album prize.

Seattle Seahawks reportedly hire Brian Schottenheimer as OC
Schottenheimer is now employed as the Colts quarterback coach, where he's been for the past two season. The second-generation coach also worked as the University of Georgia's offensive coordinator in 2015.

Ferrell, Bryant, Joseph, Fields all returning for Clemson defense
Wide receivers Deon Cain and Ray-Ray McCloud, strong safety Van Smith and offensive guard Taylor Hearn all will turn professional. Joseph led the team in total tackles with 96 on the season while Ferrell was third with 66 and Bryant was seventh with 50.

Israel PM Benjamin Netanyahu to arrive on six-day India trip
Prime Minister Narendra Modi had visited the Jewish state in July past year , becoming the first Indian premier to do so. The Indian Ministry of Defense announced last week that it would buy 131 surface-to-air missiles from Israel.

Investors Buy Shares of Time Warner (TWX) on Weakness
Topeka Capital Markets maintained Time Warner Inc. "On Thursday, January 21 the stock rating was initiated by Albert Fried with ". Zacks Investment Research raised shares of Time Warner from a sell rating to a hold rating in a report on Saturday, January 6th.

Katie Couric finally speaks out about Matt Lauer's 'Today' firing
News conducted an investigation of a Lauer colleague's detailed complaint of "inappropriate sexual behavior". Lauer since apologized for his actions.

New England Patriots vs Tennessee Titans: How to watch National Football League playoffs
Saturday night, however, marked the first time the Titans cornerback was subjected to the torture he saw so many endure. Yet entering the game, there were questions about him at age 40 and his game, which had been slumping in recent weeks.

The DFS Express: UFC St. Louis
The UFC announced Saturday that the planned scrap between Vitor Belfort and Uriah Hall has been removed from UFC St. Each of his past five fights has gone the distance, with his hand getting raised just twice during that stretch.

Dick LeBeau and Bill Belichick meet in rare playoff battle
This contest screams of a game dominated by Rob Gronkowski , who eats up the middle of the field against mediocre linebackers. Let me count the ways - four of them - the Titans can pull off one of the biggest upsets in National Football League history.

Snow stuns as more than a foot falls in Sahara Desert
The town, which is surrounded by hot desert and not used to managing snow, experienced some difficulties with icy roads. It is just extremely rare with this being the third snowfall on record in the Sahara.