Fiat Chrysler to invest over $1 billion in Ram Truck plant

2017 Ram 2500 Power Wagon

Fiat Chrysler Automobiles will spend $1 billion to upgrade its Warren Truck Assembly Plant in MI to build heavy duty Ram pickups and a full-size Jeep SUV, the automaker announced Thursday.

"Chrysler is moving a massive plant from Mexico to MI, reversing a years long opposite trend", he tweeted Thursday night.

The Italian-American automaker will pay each USA hourly and salaried employee a $2,000 bonus in the second quarter of 2018.

The automaker also announced it will give one-time, $2,000 bonuses to its USA employees.

Fiat/Chrysler says the tax plan will also mean the return of manufacturing jobs to the US from Mexico.

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.

Fiat Chrysler is recalling more than 162,000 of its Pacifica minivans worldwide over a software glitch that could cause the vehicles to stall while driving.


The Company now has ROA (Return on Assets) of -0.7 percent, Return on Equity (ROE) of -3.2 Percent and Return on Investment (ROI) of 2.2% with Gross margin of 57.8 percent and Operating & Profit margin of 7.7% and -1.8% respectively. The payment will be made in the second quarter of this year, and will be in addition to any profit-sharing and salaried performance bonuses that employees would otherwise be eligible to receive in 2018. Production of the Ram HD lineup will continue through 2019, but starting in 2020 - all heavy duty Ram trucks will be Made in the USA.

Some news reports have lined the decision to move the Ram HD model to MI to pressure from the Trump Administration.

FCA will shift production of trucks from its current plant in Mexico back to a plant near Detroit and will also divvy up bonuses to the company's American workers, in light of the recent tax reform law, The Sun Herald reports.

"Macomb County has become Dodge Ram country", Hackel said.

The county executive said the reason why General Motors, Chrysler and Ford are choosing to invest in Macomb County is the area's "dedicated, reliable and hard-working workforce", in addition to being close to the industry's supply chain. "This is an wonderful statement. (Marchionne) has a big hug coming from me at the auto show next week".

Since June 2009, the company has invested over $10bn in its U.S. manufacturing operations, adding thousands of jobs to the economy in the process. He likewise has slammed automakers for moving jobs and investment in new production facilities to Mexico and prodded them to include more automobile production in the United States.

"Bottom line: more jobs and more investment in our older section of the city", Fouts said in a Facebook post January 11. That's where the $1 billion plant investment comes in, billed as a modernization of the MI facility.

Related News:

  • Hormel Foods Corp (HRL) Director Sells $256644.00 in Stock

    Hormel Foods Corp (HRL) Director Sells $256644.00 in Stock

    Finally, Financial Counselors Inc. bought a new position in shares of Hormel Foods during the second quarter valued at $4,290,000. Staying on top of longer-term price action may help provide investors with a wider range of reference when doing stock analysis.

    Analyst Research and Recommendations: Banco Santander-Chile (BSAC), LeMaitre Vascular, Inc. (LMAT)

    With 146,600 avg volume, 10 days are for Navigator Holdings Limited (NYSE:NVGS)'s short sellers to cover NVGS's short positions. The Bank provides banking services for individuals and companies, leasing, factoring, stockbrokerage and mutual fund services.
    England name 16-man Test squad for New Zealand tour

    England name 16-man Test squad for New Zealand tour

    In 2017 alone, England won 15 of 20 matches that they contested in the 50-overs-a-side format, with one no result. Plunkett was not part of England's Ashes squad, which succumbed to a 4-0 thrashing at the hands of Australia.
  • Trump hints at 'conceivable' USA  return to Paris Agreement

    Trump hints at 'conceivable' USA return to Paris Agreement

    Mr Trump's decision last June would make the USA in effect the only country not to be part of the accord. Whereas as an example China, by 2030, they dont kick in until 2030.
    England referee chief Riley: VAR has 'gone very well' so far

    England referee chief Riley: VAR has 'gone very well' so far

    Welbeck's challenge in the penalty area on Cesc Fabregas was referred to Video Assistant Referee Neil Swarbrick by Martin Atkinson but after a lengthy delay the decision was no penalty.

    American International Group Inc. Has $33624000 Stake in Texas Instruments Inc. (TXN)

    The semiconductor company reported $1.26 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.12 by $0.14. After $1.03 actual EPS reported by Chevron Corporation for the previous quarter, Wall Street now forecasts 15.53% EPS growth.
  • Google Assistant shouts down Alexa at CES

    Google Assistant shouts down Alexa at CES

    One the update rolls out, this can all be done through your Amazon Echo or Echo Dot device, or other Alexa-integrated devices. According to the numbers in the report , 11% of Americans own an Amazon smart speaker , with 4% owning a Google Home device.

    PPL Corp (NYSE:PPL) Sentiment Report

    Kupper Randy sold $396,205 worth of stock or 2,460 shares. (ARL) has risen 51.47% since January 12, 2017 and is uptrending. Out of 14 Wall Street analysts rating PPL Corporation, 5 give it "Buy", 1 "Sell" rating, while 8 recommend "Hold".

    Facebook Inc (NASDAQ:FB) Shares Sold by Winslow Evans & Crocker Inc

    The rating was maintained by Aegis Capital on Wednesday, November 1 with "Buy". (NASDAQ:FB) rating on Thursday, October 1. Crossvault Capital Management LLC increased its stake in shares of Facebook by 17.6% in the third quarter.
  • Sirius XM Sees Unusually High Options Volume (NASDAQ:SIRI)

    Hence the difference between Predicted EPS and Actual EPS reported is $0.03/share which shows an Earnings Surprise of 75 Percent. BidaskClub lowered shares of Sirius XM from a "hold" rating to a "sell" rating in a report on Wednesday, December 20th.
    Chelsea Star Not Happy With Stamford Bridge Crowd After Leicester Draw

    Chelsea Star Not Happy With Stamford Bridge Crowd After Leicester Draw

    If Conte is unable to motivate his players then we have very little chance of progressing in the competition. For Morata this is the first full season for him and he is learning a lot from this experience.

    Sit Investment Associates Inc. Invests $23.39 Million in Conagra Brands Inc (CAG)

    Company has conspicuous measure of stock oscillations; average true range may be heating up this temperature with value of 1.68. It dropped, as 26 investors sold MPLX shares while 79 reduced holdings. 57 funds opened positions while 158 raised stakes.


Most liked

Father of Yerry Mina: I thank God for Barcelona move
I have always had my feet on the floor and my eyes on the sky, bringing my sand grain, "Mina said at the press conference. He explained: "There's a saying in my country: 'Touch the ground you want to conquer with the sole of your feet'".

Nick Kyrgios staying focused ahead of Australian Open
The Australian Open men's singles draw is now known, and after injury doubts surrounding numerous players, the field is set. It's not the first time that they received this prize, but now it was the first time that they have been honoured jointly.

ConocoPhillips (NYSE:COP) Shares Sold by Cape Cod Five Cents Savings Bank
The energy producer reported $0.16 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.08 by $0.08. It increased, as 10 investors sold FRPT shares while 25 reduced holdings. 142 funds opened positions while 524 raised stakes.

Fieldbrook Foods recalls ice cream over listeria concerns
The Hoyer 1 Line in Dunkirk, NY is the only production line and the only Fieldbrook Foods plant involved in this recall notice. Fieldbrook Foods says its orange cream and chocolate-coated vanilla ice cream bars may be contaminated with listeria .

How Wisconsin politicians responded to Trump's 'shithole' comment
He asked lawmakers discussing immigration why the USA would take in more people from Haiti and "shithole countries" in Africa. She said her father's life and work should be applied to the current moment, where racism has again come out into the open.

Controversial equaliser sees Watford fight back against Southampton
Unfortunately for Southampton , they aren't being used in the Premier League. However, it is still some way off from appearing in the Premier League .

K Sivan to take over as Isro chief
Rocket scientist K Sivan has been designated to take over the Chairmanship of Indian Space Research Organisation ( ISRO ). Sivan also designed a software called Sitara, which ISRO uses for simulating trajectories of its rockets.

USA hails China's reduction of trade with N. Korea
Other countries slated to send representatives include Britain, Australia, France and India. In comments to the Wall Street Journal on Thursday, U.S.

Goldman Sachs Group Inc (NYSE:GS) 2017 Q3 Sentiment Report
Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Goldman Sachs Group in the 2nd quarter valued at $101,000. I-G Investment Management Ltd increased Goldman Sachs Group Inc (GS) stake by 6.02% reported in 2017Q3 SEC filing. (NYSE:GS).

Latest Analysts Reports: Hewlett Packard Enterprise Company (HPE), SeaWorld Entertainment, Inc. (SEAS)
Companies with higher future earnings are usually expected to issue higher dividends or have appreciating stock in the future. This cash is what a company uses to meet its financial obligations, such as making payments on debt or to pay out dividends.

Canadian National Railway (TSE:CNR) Insider Sells C$1530628.32 in Stock
Paloma Prtnrs Mngmt, a Connecticut-based fund reported 1,901 shares. 128,789 are owned by Artisan Partners Partnership. Looking slightly further out, the stock is 0.14% year to date. 2,532 are held by Sumitomo Mitsui Asset Management.

Barclays Increases PNC Financial Services Group (NYSE:PNC) Price Target to $168.00
Finally, WASHINGTON TRUST Co increased its holdings in PNC Financial Services Group by 1.3% during the second quarter. (NYSE:GRA). The American National Registered Investment Advisor Inc holds 13,302 shares with $1.79M value, down from 17,299 last quarter.

Pope Francis encourages mothers to breastfeed during a baptism ceremony Video
Gingrich expressed confidence that Trump, in his first term, will make visible progress on the North Korean nuclear issue. President Donald Trump's decision to recognise the city as Israel's capital.

Sucampo Pharmaceuticals, Inc. (SCMP)- Investment Doubling Stocks on Cards
ILLEGAL ACTIVITY WARNING: This article was first posted by The Lincolnian Online and is owned by of The Lincolnian Online. Finally, Royce & Associates LP raised its holdings in shares of Sucampo Pharmaceuticals by 9.7% in the third quarter.

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) - Project Future Performance Before Investment
Nippon Life Glob Investors Americas Inc holds 0.35% of its portfolio in CVS Health Corporation (NYSE:CVS) for 50,160 shares. Moreover, Melvin Cap Ltd Partnership has 2.18% invested in Take-Two Interactive Software, Inc. (NASDAQ: TTWO ).