GM to move Cadillac division from Detroit to New York
Giving a tough blow to Detroit, auto giant General Motors announced its decision to move its Cadillac division from the bankrupt city to New York's Soho district.
Cadillac President Johan de Nysschen hinted that he wanted to move the brand headquarters to New York because it is the global center of human diversity as well as high finance. He added that inhabitants were more immersed in a premium lifestyle in New York than any other city of the world.
Speaking about the decision, Nysschen added, "Establishing our new global headquarters in Soho places Cadillac at the center of sophisticated living. It allows our team to share experiences with premium-brands consumers and develop attitudes in common with our audience."
The decision will shift mainly around fifty sales and marketing jobs from Detroit to New York.
As a consolation for the Detroit city, the auto giant however announced its plan to build a new rear-wheel-drive Cadillac flagship sedan at its Detroit-Hamtramck manufacturing facility by the end of 2015.
Ironically, just last week billionaire investor Warren Buffett said at a conference in Detroit that he was bullish on the city and was looking to make an investment there.
Detroit is struggling to emerge from its $18-billion bankruptcy, for which it filed Chapter 9 protection in July last year.
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