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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

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'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
General Motors

GM just delivered some great news for Detroit

By
Michal Addady
Michal Addady
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By
Michal Addady
Michal Addady
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October 22, 2015, 10:43 AM ET
Justice Department Announces 900 Million Dollar Settlement With GM Over Ignition Switch Recalls
DETROIT, MI - SEPTEMBER 17: The General Motors logo on the world headquarters building is shown September 17, 2015 in Detroit, Michigan. Mary Barra, Chief Executive Officer of General Motors, and Mark Reuss, President of GM North America, held an Employee Town Hall Meeting and a question & answer session with the news media today to discuss GM's $900 million settlement with the Justice Department over GM's ignition switch recalls. (Photo by Bill Pugliano/Getty Images)Photograph by Bill Pugliano — Getty Images
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General Motors announced in a news release on Thursday that it will nearly double the workforce at one of its Detroit plants by early next year.

The company’s Detroit-Hamtramck Assembly will add a second shift, providing the Motor City with over 1,200 new jobs, both hourly and salaried. This will bring the number of jobs at the plant up from its current 1,600 to around 2,800.

The car manufacturer needs to add these jobs in order to fulfill the forecasted demand for the five cars that will be produced at the plant. The company’s Detroit facility currently builds the Cadillac ELR and the Chevrolet Volt, Impala, and Malibu; it plans to start production of the Cadillac CT6 by early 2016, the same time that the second shift is scheduled to begin. GM is presently searching for workers to fill to 1,200 new roles.

Within the past six years the company has invested $1 billion in the Detroit plant, and it has since become one of its most active production facilities in North America.

This isn’t the only good news Detroit has seen lately. Just last month e-commerce giant Amazon announced that it would be doubling its workforce in the Michigan city as well. Peter Faricy, Amazon Marketplace vice president, said that if the company is able to attract 100 more engineers to its Detroit-based office, it would become “a self-sustaining technology hub.”

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