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FW Chamber: Promote GE move to FW


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#1 johnfwd

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Posted 17 June 2015 - 10:06 AM

News of late that GE is contemplating a move away from Connecticut, including this Dallas Business Journal article.  Might be a good opportunity for the Fort Worth chamber people to persuade GE to come to our city.  Particularly so because of the GE Locomotives operation here. 

 

http://www.bizjourna...to-move-to.html



#2 renamerusk

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Posted 17 June 2015 - 11:19 AM

.... Might be a good opportunity for the Fort Worth chamber people to persuade GE to come to our city.  Particularly so because of the GE Locomotives operation here. 

 

First things first, maybe it is a good opportunity for the FW CofC to be persuaded, do you think? :swg:



#3 johnfwd

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Posted 17 June 2015 - 11:43 AM

Point well taken.  I was thinking the same thing, myself.  I hope our city's economic development promoters don't leave it to Dallas or Irving or Plano to lure GE to those cities.  I can just hear the Dallas chamber person assure the GE decision-maker:  "Come to Dallas, the home of GE Locomotives!"  And, I'd bet dollars for donuts that GE would buy that.



#4 renamerusk

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Posted 17 June 2015 - 12:01 PM

Point well taken.  I was thinking the same thing, myself.  I hope our city's economic development promoters don't leave it to Dallas or Irving or Plano to lure GE to those cities.  I can just hear the Dallas chamber person assure the GE decision-maker:  "Come to Dallas, the home of GE Locomotives!"  And, I'd bet dollars for donuts that GE would buy that.

 

XTO, Downtown Fort Worth, Inc. are you listening too?  This could be a great collaboration between two energy companies who could each absorb 500k sf of a 1,300K - 50 story high rise; one that I am calling Energy Place Fort Worth.

 

Hope that XTO has been quietly working so as to surprise us with something "big".  This after XTO announced back in April that it was requesting design proposals for a 800 parking garage on the Landmark Block and the possibility for development of something of greater.consequence.



#5 youngalum

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Posted 19 June 2015 - 10:49 AM

They are too busy promoting cows and cowboys to be bothered with this little company relocation.



#6 renamerusk

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Posted 19 June 2015 - 06:15 PM

They are too busy promoting cows and cowboys to be bothered with this little company relocation.

 

Already having a major GE division located in "Fort Worth", it is hard to fathom that CoC FW could not be on this if a relocation is more than posturing on the part of GE; and If that is the case re: CCFW, there will be you what to pay.



#7 johnfwd

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Posted 21 August 2015 - 06:56 AM

An update on prospective sites for General Electric's headquarters relocation is in this FWBP article below.  Atlanta appears to be the favorite, though "Dallas" is a runner-up.  I put quotes around Big D because the article refers specifically to our neighbor to the east, though it mentions GE's north Fort Worth manufacturing facility.  Gov. Abbott did his best, I guess, to get them to come to Texas.  I have no idea whether the Fort Worth C of C even bothered to push for this, but they should have done so, vigorously (i.e., sharp power-point presentation, glossy portfolio, promise of tax incentives, etc.). If someone knows more about this, please so inform me.  Of course, GE may be dead-set on going to the magnolia city.

 

http://www.fortworth...f284924b94.html



#8 PeopleAreStrange

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Posted 21 August 2015 - 01:37 PM

"Dallas is also among the markets under study, one of the people said."

 

Perhaps the person meant Dallas-Fort Worth metroplex instead of Dallas. We all know how common this is with people not from here.

 

Here's hoping Fort Worth is under consideration.


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#9 Austin55

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Posted 21 August 2015 - 02:42 PM

DFW area  seems like it also has a good base for a lot of GE's major products. GE makes jet engines for commercial airliners, and FW especially has deep aviation roots. We already know about the trians. GE also makes a lot of those wind turbines and solar panels, and Texas is a huge market for those. They make Oil and Gas products, another thing DFW knows well. They have a medical presece as well and this area seems to have a lot of that going on to. 



#10 Dallastar

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Posted 22 August 2015 - 08:58 PM

Texas is business friendly state, and we have everything they are looking for (in Fort Worth) as far as business goes.  They do seem to want a shiny new dig as well.



#11 JBB

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Posted 28 August 2015 - 01:39 PM

Not happening:

http://www.bloomberg...x-im-opposition

#12 johnfwd

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Posted 31 August 2015 - 08:11 AM

A further update in this FWBP article.  Nix to GE's headquarters going to the "Dallas area."  Apparently, GE does not like the "Texas political climate," specifically the vote of some of the Texas congressional delegation in opposition to reauthorization of  the Export-Import Bank.  I guess Fort Worth is lucky to have gotten the GE locomotives plant prior to the Ex-I'm bank authorization bill going before Congress.

 

http://www.fortworth...0c23ee8cd6.html



#13 renamerusk

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Posted 31 August 2015 - 08:28 AM

....Apparently, GE does not like the "Texas political climate," specifically the vote of some of the Texas congressional delegation in opposition to reauthorization of  the Export-Import Bank.....

 

The political climate in Georgia is just as split as it is in Texas over the EX-IM Bank; the climate there will probably rule out Atlanta as well. 

 

My guess is that GE could be using the long tested strategy of "hard to get" to squeeze out more concessions from Connecticut.



#14 JBB

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Posted 31 August 2015 - 09:36 AM

I agree. It's not like the political climate in Texas was something that changed suddenly after they said they were looking here.

#15 renamerusk

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Posted 31 August 2015 - 10:08 AM

Texas is business friendly state, and we have everything they are looking for (in Fort Worth) as far as business goes.  They do seem to want a shiny new dig as well.

 

 You would think so, however the current political climate in Texas with a staunch anti EX-IM Bank will be an obstacle when recruiting global corporations seeking to relocate here. 



#16 cjyoung

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Posted 31 August 2015 - 04:43 PM

Sound like pure bullsh to me.



#17 pelligrini

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Posted 02 September 2015 - 09:36 AM

I'm sure GE was hoping for editorials like the one Monday in the Star Telegram as well.

http://www.star-tele...le33261705.html

 


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#18 mmmdan

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Posted 02 September 2015 - 10:24 AM

I can't say it's totally surprising.  Most of the country's exports are in big dollar items like aircraft, construction equipment, locomotives, etc.

 

When you have a big company like GE that does a lot of business using the Ex-Im bank, either directly, via their locomotives, or indirectly, aircraft engines, you have to expect them to take that into account.  The failure to reauthorize the Ex-Im bank can directly impact their bottom line.

 

When you look at the facts that the Ex-Im bank actually makes money for the country.  Its re-authorization has never really been a political issue.  It's a very specific set of representatives that have an issue with it...

 

As they say, elections have consequences.



#19 mmmdan

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Posted 17 September 2015 - 10:23 AM

And in response to the fact that GE cannot get financing for their products, they will begin to shift some of their jobs out of the U.S.

http://www.star-tele...le35306709.html



#20 Doohickie

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Posted 17 September 2015 - 10:51 AM

Hooray for Small Government!!! 

 

 

 

Right?  :no:


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#21 Volare

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Posted 17 September 2015 - 07:36 PM

And in response to the fact that GE cannot get financing for their products, they will begin to shift some of their jobs out of the U.S.

http://www.star-tele...le35306709.html

 

It's not GE that can't get financing, it's the foreign (mostly state owned) companies who do business against US companies who can't get the same terms. So we are putting US companies at a competitive disadvantage by giving loans to foreign entities that we won't give to US companies. I for one am quite pleased that this scam has been shut down.



#22 Austin55

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Posted 27 July 2017 - 03:09 PM

Erie PA's loss is FW's gain as all locomotive production shifts here. 

 

http://www.star-tele...e163936832.html



#23 johnfwd

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Posted 27 July 2017 - 03:30 PM

Erie PA's loss is FW's gain as all locomotive production shifts here. 

 

http://www.star-tele...e163936832.html

Ditto on the MSN website today.

 

http://www.msn.com/e...ocid=spartandhp



#24 Austin55

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Posted 26 October 2017 - 05:58 PM

Erie PA's loss is FW's gain as all locomotive production shifts here. 

 

http://www.star-tele...e163936832.html

 

They now might be shutting down locomotive production altogether.



#25 Doohickie

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Posted 26 October 2017 - 09:45 PM

Where did you hear that?


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#26 JBB

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Posted 26 October 2017 - 09:49 PM

I saw this article earlier today:

 

https://www.cnbc.com...ess-report.html

 

It indicates that they are looking to sell or spin off a number of divisions, including their railroad business, but I read something elsewhere last week saying that shutting it down was a possibility.



#27 Doohickie

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Posted 26 October 2017 - 10:05 PM

I didn't see any mention of shutting down.  Just that they want to sell it.


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#28 JBB

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Posted 26 October 2017 - 10:47 PM

Like I said, I read about shutting it down elsewhere last week.  Can't recall where.



#29 Doohickie

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Posted 30 October 2017 - 07:20 AM

Ah.  I missed the elsewhere bit.

 

I'm sure shutting down is an option, but from that article it seems remote.


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#30 Not Sure

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Posted 30 October 2017 - 09:00 AM

No way will it be shut down. GE is the primary supplier of Tier IV compliant locomotives in the US. By primary I mean the vast majority of compliant locomotives are built by GE. The other major builder has only just begun to produce Tier IV compliant locomotives. In the locomotive business in North America there is GE, Progress Rail and a handful of small outfits. GE and Progress Rail account for almost all new locomotives sales in North America.

Whether GE owns the locomotive division going forward or not doesn't matter much. Someone will buy it.

#31 JBB

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Posted 30 October 2017 - 09:12 AM

That's good to hear.  The fact that they had scaled back production at the FW plant in the past made me worry that there was some possibility it could be shut down.



#32 Doohickie

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Posted 30 October 2017 - 11:00 AM

That's good to hear.  The fact that they had scaled back production at the FW plant in the past made me worry that there was some possibility it could be shut down.

 

But they've already shut down Erie, so for that business unit, Fort Worth is it.  If I worked at the Ft Worth site I'd probably be concerned (I've been through a few "realignments" with both good and bad outcomes), but I think this business will stay intact in Fort Worth, whether GE's name is over the door or Caterpillar or GM or Siemens.

 

EDIT:  I might also add that since the Ft Worth facility is very recently built, and tailored to production of Tier IV compliant locomotives, even if another locomotive supplier buys them out, there's a high likelihood that this plant will stay open. 


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#33 Not Sure

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Posted 31 October 2017 - 12:55 PM

The Fort Worth plant was built specifically to shutter the Erie plant, despite assurances from GE that wouldn't happen. For domestic locomotive production I suspect Fort Worth will be it for some time going forward. Export production will occur at foreign plants as they come online.

When the plant first opened there was a rush by BNSF in particular to acquire as many Tier III locomotives as possible before the Tier IV mandate went into effect. Locomotives from both Erie and Fort Worth were delivered in the first couple years. As the plant made its transition to the Tier IV locomotive, BNSF purchased several early production units prior to the Tier IV mandate. This allowed BNSF to take delivery of the 4200 series Tier III units later on, which are known as Tier IV credit units.

I'm not part of the mechanical department - I only operate the locomotives - so I couldn't tell you what the advantage of Tier III vs. Tier IV locomotives are. They run about the same as far as I can tell.

At the time the plant opened, railroads were surging from record volume lows in 2009 and 2010. BNSF like many others needed to bring a lot of stored power online to accomodate the increased traffic. Locomotives being returned to service from long term storage often have problems and require major overhaul. A good number of the locomotives BNSF had stored were later sold or returned to the lessor which put BNSF in a good position to replace those older less efficient locomotives with new models. It also didn't hurt to have Berkshire Hathaway behind BNSF in a capital expenditure kind of mood. This is why if you drove by the GE plant in 2013-2016 you almost always saw new BNSF locomotives. If you saw other railroad's locomotives, they were often outnumbered by BNSF.

Lately the plant has been transitioning to offer rebuilding services of older GE products in addition to building new locomotives. In my opinion, this is a brilliant strategy since many locomotive components have a long life (frame, trucks, engine) while others need to be replaced more frequently. The GE plant seems to be able to handle a variety of locomotive cores based on the traffic BNSF shuttles to and from the plant.

Business for the railroad seems to come in waves. Right now some business units are trending downward while others are trending upward. Even in a period of steady volume there exists a need to replace older locomotives. GE has improved its product so much over, let's say 1980s models, that a lot of these older locomotives are still going strong. I still see locomotives in road service from before the merger of 1995, for example. Many of these are candidates for rebuilding rather than outright replacement, which again puts GE Fort Worth in a good position to capture this business. Being able to extend the life of older products through rebuilding and creating new products at the same facility is a huge advantage, especially for the largest locomotive manufacturer.

The point I want to drive home is the Fort Worth plant is not an outpost for a fledgling manufacturer. This is the new model for the preeminent locomotive manufacturer. Is the business of building locomotives different from building automobiles, for example? Yes, in particular the waxing and waning of production volume to suit market demand. If GE's locomotive business were shut down tomorrow a massive void would exist and no other manufacturer is in a position to fill it, even during this time of steady volume without pressure for additional motive power.

GE may be motivated to shed non-core businesses (IMO GE is a manufacturer first and foremost so I don't think of the locomotive and mining divisions as non-core), the Fort Worth plant could be sold. If that comes to pass, I hope the plant is sold quickly to a buyer with vision enough to continue the engineering and manufacturing legacy GE has built over many decades.

#34 AndyN

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Posted 31 October 2017 - 02:18 PM

No way will it be shut down. GE is the primary supplier of Tier IV compliant locomotives in the US. By primary I mean the vast majority of compliant locomotives are built by GE. The other major builder has only just begun to produce Tier IV compliant locomotives. In the locomotive business in North America there is GE, Progress Rail and a handful of small outfits. GE and Progress Rail account for almost all new locomotives sales in North America.

Whether GE owns the locomotive division going forward or not doesn't matter much. Someone will buy it.

 

 

Interesting that Caterpillar (Progress Rail) bought GM's EMD with financing from BN's Berkshire Hathaway.


Www.fortwortharchitecture.com

#35 Austin55

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Posted 31 October 2017 - 04:40 PM

Star Telegram talking a bit

http://www.star-tele...e181725306.html

#36 Volare

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Posted 13 November 2017 - 08:01 PM

Well I guess someone will have to buy it.

 

One of the largest corporate dividend cuts in history:

 

http://www.star-tele...e184388993.html



#37 renamerusk

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Posted 14 November 2017 - 12:59 PM

This raises the question when public incentives should given.  Care must be taken as to which category of industries is likely to be long term and is likely to be short term. 

 

Manufacturing has been shown to be a difficult category of industry for long term stability when cheaper labor and costs can be negotiated from a global aspect.



#38 RD Milhollin

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Posted 23 November 2017 - 12:17 AM

Nice summative article from the S-T about the uncertain future facing the GE Locomotive Plant in Alliance Fort Worth:

 

http://www.star-tele...e185786343.html






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