GM to Spend $1.5 Billion in Consolidation

General Motors Corp. said it will invest $1.5 billion in its southeast Michigan engineering operations as part of a consolidation plan to cut costs and create new models quickly. The company said it will combine more than 40 sites into six campuses during the next five years, which would represent the largest corporate investment ever in the region. Consolidating the operations would allow automotive engineers to work closely together as GM strives to cut its development cycle to 18 months from its current average of 24 months. GM shares rose $1.25 to close at $67.25 on the NYSE.