GM plans $600 million upgrade at Kansas City plant

Business

Fort Wayne resident Bill Parker isn’t unlike many homeowners.Today 3:00 am

Alex Freemon was so eager to be a stockbroker after graduating from Georgia Tech last year that he said he was happy to go door to door selling mutual funds for Edward Jones & Co.The brokerage flew him to St.Today 3:00 am

GE declares $6.5 billion dividend

General Electric plans to extract $6.5 billion in dividends from its financial unit this year as Chief Executive Officer Jeffrey Immelt ramps up shareholder rewards while shrinking the business.Today 3:00 am

KANSAS CITY, Kan. – General Motors is investing in a $600 million upgrade at its assembly plant in Kansas City, Kan.

The automaker said Monday it will start construction this year on a 450,000-square-foot paint shop, a new stamping press and other improvements at the Fairfax Assembly Plant.

GM CEO Dan Akerson said the investment is a “vote of confidence” in the Fairfax plant, where the company has produced more than 12 million vehicles since 1945. GM announced earlier this month it planned to invest $1.5 billion in its North American facilities in 2013.

About 3,900 employees work at the Fairfax plant, where the company produces the Buick LaCrosse and Chevrolet Malibu.

GM said the construction will take about two years to complete.