Today, the Dow Jones Industrial Average closed near a 4-year high. That’s impressive. But it’s not just Wall Street that’s seeing the uptick. It’s also Main Street.
Last night on “Rock Center” NBC ran a wonderful report on the return of The Graveyard Shift at a GM plant in Flint, Michigan. In early 2009 it looked like GM wouldn’t make it. Now, its a thriving company.
Today, GM reported a 2010 earnings of $7.6 billion, an increase of 62% over 2010. Great for the company, and great for shareholders. But it doesn’t end there. It’s also great for the employees as well. Thanks to a re-negotiated union contract, factory workers will receive a bonus check of $7,000. That’s the largest bonus check going out to workers in the history of the company.
For every job that GM adds, 3 other jobs in the area get created to support that job. That means Flint, Michigan is going back to work.
If nothing else its good news, and we’ll take it.