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GE to invest $200 million in locomotive plants

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NEW YORK | Sun Sep 18, 2011 1:25pm EDT

NEW YORK (Reuters) - General Electric Co said on Sunday its GE Transportation unit will invest about $200 million in a Fort Worth, Texas, locomotive plant and to upgrade its operations in Erie, Pennsylvania.

GE Transportation will create more than 500 new manufacturing jobs in Texas by 2012 with the potential for up to 275 additional jobs in subsequent years, the company said.

The Texas facility will start production in the third quarter of 2012.

GE also said it will invest in technology upgrades at its more than 100-year-old manufacturing facility in Erie, Pennsylvania, to meet accelerating domestic and global demand.

This year, GE Transportation has announced more than 1,900 new U.S. jobs, including nearly 1,000 at its Erie site.

GE Chief Executive Jeff Immelt, who chairs President Barack Obama's jobs council, said on CNN television the largest U.S. conglomerate will create 15,000 jobs in the United States this year.
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Comments (1)
Ralphooo wrote:
Now that a major company (very major) is making a substantial investment in rail technology, suddenly our legislators will probably be bribed to support, instead of kill, some related government-funded projects. That seems like a good development. Since we obviously can’t get rid of the bribery system, the only hope for a sane political situation comes from the big companies themselves. Whether they realize it or not, they are now essentially the totality of our government. The companies just have to bribe the ceremonial leaders, who now function something like the House of Lords before it was essentially abolished a few years ago. The amount that has to be paid by a single company to any given candidate is laughably small, but there are a lot of candidates at both federal and state levels, with the result that any given company may have to pay out a few million dollars per election. With only such pocket change at stake, the totality of arrangements necessary for companies to get their wishes granted is trivial. The big question then becomes, can the companies get together and govern the country in a sane way? That will require some new step in the evolution of the system. Unfortunately, nothing can be codified, since it’s all illegal, so citizens can have no input whatsoever, nor even any idea what is happening during the decision-making process. That is a huge disadvantage of the new system. Finally, since we are not really supposed to understand or discuss any of this, we cannot even begin to make any changes. We face an extended period of lawless government, comparable to the experience of “communist” rule in the countries of the old Soviet Union.

Sep 18, 2011 8:36pm EDT  --  Report as abuse
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