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

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

www.laht.com

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."

(visit the link for the full news article)

Do they know something we don't?

Why would we give $25 billion to GM & Co to prevent job loss if they're just going to turn around and out-source the rest of their companies (and our jobs) anyway?

Also if a company has a $1 billion to invest why should We give them anything?

There are car companies making money out there. Perhaps the "big 3" should take a closer look at their business models, the current environmental state, and use some forward thinking.



www.laht.com
(visit the link for the full news article)

This just happened earlier this month:

FRANKFURT -(Dow Jones)- General Motors Corp. (GM) said Thursday it will this week open its $300 million assembly plant near St. Petersburg, Russia.

news.morningstar.com.../DJ/200811061152DOWJONESDJONLINE000784_univ.xml

The average person would think a business in trouble would be making cut backs, not expanding??????????????????????? Didn't they see this coming down the pike? It almost seems that they might have been banking on a bailout for quite some time.


[edit on 11/20/2008 by sad_eyed_lady]

Don't look now but it is happening.

This is "bail out" crap is just another way of systematically destroying our country.

despicable, sickening, disgusting...where's the bucket

I hope any GM Direct Invest into Brazil of US taxdollars goes to cutting down that terrorist-haven of a jungle- oh what's it called, its big and stuff, like- um...

Seriously though, somone in Washington should propose the lifting of ANY patents people allege the big car companies have locked away for electric, solar, H20, HHO, alchohol- any of those. they should nurture new enterprise in american automotive industry by saying, "if you biznitches ain't usin' this shizznit- ain't yours no more."


Gordon Brown, GWBush, and even Medvedev all declared protectionism as a sworn enemy of global finance after the G-20 summit last week. Man those guys hate anything imort-substitution or tarriff related.

reply to

Big surprise! You thought American companies were somehow patriotic like an American person might be? No.
They are self-serving without any morals or patriotism. When the economy goes belly up in one part of the country businesses have always felt free to pull up stakes and go where the money is better.
Now, the whole U.S. economy is in the tanks, and the companies are heading for greener pastures in developing countries, but not before they've drained out the last dime of your resources before they go.
They have no allegiance either to any country or the people in it. The bottom profit line of the company (and its shareholders) is all that matters to them.
Pretty soon Americans will be following the flow into those other nations, just like for centuries other came to you for the dollar.
The party is over.

[edit on 20-11-2008 by wayno]

reply to post by wayno


I suppose in a free market these companies should be allowed to jump ship. My chief complaint is with the hand out they're seeking in order to do so.

I think the worst is that the biggest surprise will come to all of the soon to be hundreds of thousands of jobless in our country. There must be some sort of balance/fair treatment that can be struck between employer and employee.

Congress is at fault for not placing sufficient limitations on how money could be used.

I work for an education department that receives grants from Washington. Lord knows that Congress dots their I's and cross their T's on what we can and can't spend the money on. And we are a long long long way from receiving a billion dollars.

The story isn't getting into the mainstream media at this point . . . only CNN is carrying a watered down version with no mention of the funds coming from the US 'bailout' . . .

CNN

Yet in all of these 'offshore' publications, it seems to be common knowledge . . .

China

India

Venezuela

Go figure . . . bet the North American media would miss all those automaker advertising dollars if they did something to seriously piss them off such as blowing the freakin' lid off another scam of yet another whack of taxpayer dollars

Right in the crosshairs, baby.

Click

[edit on 20-11-2008 by GoalPoster]

reply to post by jam321


Do you think the cost of Education in general would reduce if there were some sort of incentive. For example; you will receive XXX amount of dollars this year, if you come under budget the leftover amount is split amongst departments (petty cash, teacher appreciation day, etc.).

It seems that this might discourage that last minute spending spree at the end of the fiscal year. Perhaps it was time offices started to worry about waste. If we could introduce some level of frugality it might trickle up?

Ug!!!

I actually like some GM products (their trucks/SUVs)....but now I will NEVER EVER buy from them. And I actually can get a VERY GOOD discount with GM products, thanks to my grandfather!!!

And I said this in another post....my grandfather retired from GM after 40+ years and lives off his pension (which is pretty good)....and I havent heard back from him yet....but this BS crap from GM better not be affecting HIM! It already sucks that their poor management is going to affect all those "little" people who will loose their jobs!

Our money that goes to bail them out BETTER NOT go to those overseas!!!!


Uggg!

[edit on 11/20/2008 by greeneyedleo]

Originally posted by greeneyedleo
Ug!!!

I actually like some GM products (their trucks/SUVs)....but now I will NEVER EVER buy from them.

And I said this in another post....my grandfather retired from GM after 40+ years and lives off his pension (which is pretty good)....and I havent heard back from him yet....but this BS crap from GM better not be affecting HIM! It already sucks that their poor management is going to affect all those "little" people who will loose their jobs!

Our money that goes to bail them out BETTER NOT go to those overseas!!!!


Uggg!

Unfortunately, GM's biggest financial burden are those like your grandfather. The unions fought for and won his wonderful pension, but the problem is that it's like GM has never lost an employee.

Again, not blaming your grandfather, he put in his 40 years and busted his hump, but the health care (man do I wish I had a GM retirement health care plan...) and pensions are killing the company.

On the other end of the wishing well, I'm certainly glad not to be living off of a GM pension, as it's painfully obvious I wouldn't be getting it for much longer. At some point in time, there's just no more money.

reply to post by Unit541


While it's true that pension and health care are a huge drain, that's part of the bargain the company struck. Had anyone in the 90's listened to anyone with a lick of sense they could have prepared for a shift in fuel usage and availability.

One might also venture to say the BIGGEST drain on the company was located in the boardroom. There are simple mathematical equations for what % the top can profit from the bottom. Companies used to follow these guidelines. I guess that's before Mr. Chairman got used to first class champagne flights.

reply to post by Unit541


I do understand what you are saying....but that was something they offered their employees and kept many people like him around for so long. He retired a looooooooong time ago and probably doesn't have many more years to live...as he is "that old".

If it is such a drain on them like you say...maybe they should not offer that to employees anymore - along with all the other budget cuts they should make.

Anyways....them sending our money overseas better be written into whatever plan congress is requiring of them now. Doubt it, but it should be done.

haha i like how they talk about what they are going to do with our money BEFORE they even steal it from us..

How about we boycott these mother 4#$#$# and not ever purchase a GM product of any type, and spread the word to everyone we know with proof that has been collected here....it would be a start.