News, General Motors to Invest $1 Billion in Brazil Operations -- Money to Come from U.S. Rescue Program. (sales, financial)

[John1960]

General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker.

According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer will receive from the U.S. government and will be used to "complete the renovation of the line of products up to 2012."

Latin American Herald Tribune - General Motors to Invest $1 Billion in Brazil Operations -- Money to Come from U.S. Rescue Program

[Judith 66]

Thank you. Just sent this on to my Senator and Rachel Maddow. The Committee needs this information or already has it more likely and ignoring it. This link has a video of innovation in Europe of new types of cars that use compressed air and very little gas, and simple engines that don't seem to wear out. Surprising what can be done. Air cars Judith 66

[floridasandy]

you might want to add this article about GM staying in china with bailout help:
GM to Stay Investing in China despite Cash Woes_Home_Öйú¹ú¼Êµç×ÓÉÌÎñÍø

[texdav]

GM has manu8facturing plants in amny countries. They do much better there but want taxpayers to bail them out of there US problems which have been increasing for decdes since they haven't really been anything but a SUV maker here.With thier liabilties they can exist on small car sales.

[HappyTexan]

Yup..ask the good old USofA for free money so you can invest it in foreign nations.
Don't worry..we'll pay it all back in taxes.

Like a slap in the face and I'll bet not one person in Congress will bat an eye.

[callalillies]

Originally Posted by HappyTexan

Yup..ask the good old USofA for free money so you can invest it in foreign nations.
Don't worry..we'll pay it all back in taxes.

Like a slap in the face and I'll bet not one person in Congress will bat an eye.

We won't be able to even pay it back in taxes since we won't have any jobs left!

[HappyTexan]

Wonder how the UAW feels about that ?

[trishguard]

Isn't the point of helping GM for them to do what it takes to survive? I'm sure they have different labor contract in those countries, probably more friendly to the company and more economical.

[floridasandy]

so get those countries to pay for the bailout if they receive the benefit of the jobs. that does not bring jobs into the united states, nor does it protect the jobs already in the united states. if they can do it cheaper, they will move the jobs there anyway. this is such a load of bunk! it is just like the wall street bailout, all talk about saving main street and none of it true.

[GloryB]

I wonder why GM doesn't put a plant in Mexico instead? The Ford Hermosillo plant there is doing well (even though it is planning to close for the month of Jan). The more people we can help employ in Mexico, the less financial strain it is on the US in the long run.