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General Motors to Invest $1 Billion in Brazil Operations -- Money to Come from U.S. Rescue Program
By Russ Dallen
Latin American Herald Tribune staff
SAO PAULO -- 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."
"It wouldn't be logical to withdraw the investment from where we're growing, and our goal is to protect investments in emerging markets," he said in a statement published by the business daily Gazeta Mercantil.
Meanwhile, he cut the company's revenue forecast for this year by 14% to $9.5 billion from $11 billion, as the economic crisis began to cause rapid slowdowns in sales.
GM already announced three programs of paid leave, and Ardila added that GM Brazil "is going to wait and see how the market behaves in order to know what decision to take" with regard to possible layoffs.
For Ardila, the injection in Brazil's automobile sector of 8 billion reais ($3.51 billion) recently announced by the federal and state governments of Sao Paulo "has already begun to revive sales," which fell by 12% in October.
The executive said that the company will operate a "conservative" scenario in 2009 with an estimated production of 2.6 million units, and another more "optimistic" that contemplates sales of 2.9 million.
thats awesome!
Good thing we bailed them out to create american jobs right Sealy....Does naything good ever come from Detroit?
I was curious so I did some quick searches on China. It seemed not to many years ago China was having a really tough time feeding all the people there.
I came across this article that GM, "will continue to increase investment despite the troubled U.S. auto giant General Motors amid financial crisis, peplenet.com said today, citing SAIC vice president and Shanghai GM general manager Ding Lei".
I read more on these articles of Huliq News and discovered, "GM says biofuels suit China transportation."
The end of the ethanol article says, "The Chinese fuel ethanol market is expected to double in the next few years, despite looming obstacles like the availability of adequate feed-stocks."
It leaves me asking a few questions.
Is GM and Chrysler sending money to China and then expecting American funds so the people of America can foot the bill?
How does this play when America is already supposedly so far in debt to China?
If China has historically had so many problems feeding their people why are they going to ethanol with viable crop lands?
I have read that Verasun is the largest ethanol company in the world and they just filed bankruptcy. Wells Fargo cut a deal and jumped into the number two creditor position in the bankruptcy case. Which in turn left the farmers and the grain companies holding the worst position in the Verasun bankruptcy case.
Is the price of steak going down in the grocery store since the grain market just went to poop?
thats awesome!
Good thing we bailed them out to create american jobs right Sealy....Does naything good ever come from Detroit?
thats awesome!
Good thing we bailed them out to create american jobs right Sealy....Does naything good ever come from Detroit?
This has to stop. I've been saying that for how long? But don't pretend that GM or Ford or Toyota all don't outsource to other countries.
Who's been screaming to bring these jobs back home? Me or you. You should be glad that they are going to Brazil assface, because that'll lower the cost of vehicles.
Don't pretend that now you are for bringing jobs back home. You sat by and watched the GOP pass tax breaks for companies to do things like this.
So let me say it again. The GOV should tax/tariff these imports.
Or, because there is no way to bring EVERY manufacturing job back home, any product that isn't at least 70% made in America, should be tariffed.
And Andrew (gayest name ever), GM is a big bad corporation. Do you get that? They'd do whatever makes them the most profit, provided that it is legal. So make it illegal.
Just watch!!! If the Dems try to fix this problem. It will be YOUR FUCKING PARTY that tries to defend/protect GM and their right to leave the country. They'll scare us by telling us it will raise the costs of cars. So what? If we aren't working, we can't afford them anyways.
I only care about GM because GM is important to American workers. If they stop using American workers, then fuck them!!!
Have you lost your job yet? Keep buying foreign and see.
It's a global E CON O MY folks. Some of that money is probably going to China. You really do not expect that they are just spending it here at home did you?
I asked these questions here a while back. Not very many people looked at the thread.
I was curious so I did some quick searches on China. It seemed not to many years ago China was having a really tough time feeding all the people there.
I came across this article that GM, "will continue to increase investment despite the troubled U.S. auto giant General Motors amid financial crisis, peplenet.com said today, citing SAIC vice president and Shanghai GM general manager Ding Lei".
I read more on these articles of Huliq News and discovered, "GM says biofuels suit China transportation."
The end of the ethanol article says, "The Chinese fuel ethanol market is expected to double in the next few years, despite looming obstacles like the availability of adequate feed-stocks."
It leaves me asking a few questions.
Is GM and Chrysler sending money to China and then expecting American funds so the people of America can foot the bill?
How does this play when America is already supposedly so far in debt to China?
If China has historically had so many problems feeding their people why are they going to ethanol with viable crop lands?
I have read that Verasun is the largest ethanol company in the world and they just filed bankruptcy. Wells Fargo cut a deal and jumped into the number two creditor position in the bankruptcy case. Which in turn left the farmers and the grain companies holding the worst position in the Verasun bankruptcy case.
Is the price of steak going down in the grocery store since the grain market just went to poop?
thats awesome!
Good thing we bailed them out to create american jobs right Sealy....Does naything good ever come from Detroit?
See, "that's awesome". You hate America, Americans and the American middle class.
How many years was Detroit the auto capital of the world? Motown?
The GOP fucked Michigan up and now Alabama is doing great with Toyota.
So now you say Alabama is a great place? Real genious' come out of Alabama, right?
You have unwittingly ruined your own country, just like Wilson did:
EXACTLY like Wilson did. He fucked up and gave the corporations too much power, just like you did by voting for Bush the last two times.
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence
thats awesome!
Good thing we bailed them out to create american jobs right Sealy....Does naything good ever come from Detroit?
See, "that's awesome". You hate America, Americans and the American middle class.
How many years was Detroit the auto capital of the world? Motown?
The GOP fucked Michigan up and now Alabama is doing great with Toyota.
So now you say Alabama is a great place? Real genious' come out of Alabama, right?
You have unwittingly ruined your own country, just like Wilson did:
EXACTLY like Wilson did. He fucked up and gave the corporations too much power, just like you did by voting for Bush the last two times.
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence
Yes Motown was great until competition came into the market and drove them to a 3rd rate city. The GOP fucke dup Michigan? lol, I didn't know the GOP was in the business of making cars. O you mean the GOP let companies like Toyota and Honda and BMW who all make cars here in the states by American workers...far superior cars and GM couldn't compete.
I see. Competition is a bad thing when you make a shit product..you're right
well, when ya stop and think about it,, Brazil is American.. hey?
Think a little farther into the whole process Willow.well, when ya stop and think about it,, Brazil is American.. hey?
Oh yes, More American jobs all righty.. GM went to Brazil to escape the back breaking Union. They will probably thrive in Brazil and go kaput in America. Won't surprise me a bit..
thats awesome!
Good thing we bailed them out to create american jobs right Sealy....Does naything good ever come from Detroit?
See, "that's awesome". You hate America, Americans and the American middle class.
How many years was Detroit the auto capital of the world? Motown?
The GOP fucked Michigan up and now Alabama is doing great with Toyota.
So now you say Alabama is a great place? Real genious' come out of Alabama, right?
You have unwittingly ruined your own country, just like Wilson did:
EXACTLY like Wilson did. He fucked up and gave the corporations too much power, just like you did by voting for Bush the last two times.
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence
I see. Competition is a bad thing when you make a shit product..you're right
Oh yes, More American jobs all righty.. GM went to Brazil to escape the back breaking Union. They will probably thrive in Brazil and go kaput in America. Won't surprise me a bit..
Shows what you know. My brother says they have problems with Brazilian workers too.
You don't know how things work!!!!
They just asked my brother, "Can you pay our Brazillian employes half in American dollars and half in Brazillian $?"
And he told them to fuck off! He said, "I don't give a fuck about Brazillian workers. We moved plants over there to save money. If they don't like the money we pay them, then we need to come home".
So eventually, especially if the oil companies decide to gouge us again, jobs will start coming back home. Not because the Dems tell them to, but because it will make financial sense.
But what will those companies pay American workers? You suggest $15 and I suggest $35.
