Monday, November 21, 2005

GM cuts jobs: Real estate vulture time, thanks!

After the many hurricanes hit the south, there were a few echoes here and there, from people I know, about going into the affected areas and buying up property. Wasn't there a scripture in the Bible about building one's house on sand? Anyways, that a risk i dont fully understand, but an opportunity nonetheless.

"However General Motors Corp. will eliminate 30,000 jobs and close nine North American assembly, stamping and powertrain plants by 2008 as part of an effort to get production in line with demand and position the world's biggest automaker to start making money again after absorbing nearly $4 billion in losses so far this year."

Cities where one may want to consider researching the real estate investment market include: plants will close in Oklahoma City, Lansing, Mich., Doraville, Ga., and Ontario, Canada. GM also listed Spring Hill, Tenn., as a plant closing even though one production line will remain open there. A shift also will be removed at a plant in Moraine, Ohio.

Research and due diligence, for items such as job growth, education levels and coming or developing industries could prove these areas to be great opportunities in the mist of sorrowful times for some. Its not personal, just business.

1 comment:

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