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Posted on 07/29/2009 2:59:10 PM PDT by AKSurprise
General Motors is spending more money where it counts: Latin America.
The Latin American market has been generous to the struggling automaker despite struggles at home. Today, GM announced a $1 billion plan to expand its vehicle lineup in Brazil.
"We believe the Brazilian market will be very strong, will continue to grow at a rate of at least 5 percent a year and we also believe in the prospects for exports of the new models," Jaime Ardila, GM's chief executive for Brazil and the Mercosur region of South America, said in a statement.
Ardila added that GM showed record profits in Brazil in 2008 despite an global economic slowdown.
Reuters reports that GM will build two new compact models and expand operations at its Gravitai factory in the southern state of Rio Grande do Sul. The two new compacts could also be exported to African countries and other places, boosting GM's presence elsewhere.
The $1 billion investment is part of a larger spending plan across Brazil, Argentina, Uruguay and Paraguay that began in 2007.
This isn’t going to be well received.
Gubmint Motors outsourcing jobs? Whoda thunkit?
More ‘shovel ready’ jobs. Not here however.
Oh man, this is easy......Obummers fault!!
More global wealth redistribution.
And to the right-hued people!
Obama did not specify it would be American jobs he’d save.
They have to invest in countries whose politicians understand the importance of economic growth. The USA has now chosen Western Europe’s path to irrelevance: keep everybody “safe” from everything, at a huge price.
Are they union jobs?
It’s still a socialist country, it’s just that the wealth is being redistributed there instead of here.
"We believe the Brazilian market will be very strong, will continue to grow at a rate of at least 5 percent a year and we also believe in the prospects for exports of the new models," Jaime Ardila, GM's chief executive for Brazil and the Mercosur region of South America, said in a statement.Well, the economic growth prospects look good in Brazil, not least because their president is only socialist-leaning, y'know, compared with the US president.
Did I miss the announcement that Brazil paid the USA part of the bailout of GM?
What is Brazil’s unemployment rate compared to the 17%(?) in Detroit?
After China and India,Brazil is the largest emerging market for cars.
I guess Toyota,Nissan,Honda,Mercedez,BMW et al should not build cars in the USA?
Is Obama or the posters here the Economic Nationalist e.g. Fascist?
I’ll bet Obama is trying to figure out a way to move the plant to Venezuela.
One can actually hear crickets from the White House on this matter......
How big is the UAW in Brazil?
Change you can believe in Michigan!
Maybe this is the way to get illegals to leave the country. Work available in Brazil.
What does that have to do with GM building cars in Brazil?
Also, instead of building the cars there, they could export them from here. But I'm guessing labor's a bit cheaper down south.
Ok...I think I'm getting a handle on this now, possibly even understand it now.
....Government Motors is outsourcing jobs to Brazil. And with the profits they make in Brazil, with non-American, non-union labor,...they will repay their bailout loans.
Snazzy!!!
Thanks Obama, for those American jobs that you are sending abroad. This is almost an impeachable offense, just due to the hypocrisy of his rhetorical bullspit!
This should be plastered from sea to shining sea, and Obama questioned heartily about it.
Ok...I think I'm getting a handle on this now, possibly even understand it now.
....Government Motors is outsourcing jobs to Brazil. And with the profits they make in Brazil, with non-American, non-union labor,...they will repay their bailout loans.
Snazzy!!!
Well Zero didn’t lie, they are American jobs - SOUTH American jobs! /sarc
Exactly, we(actually the O’tard) gave them our money and they took it and ran south.
Which is exactly why this story is found on something called www.mlive.com, and not on CNN.com, or CBSNews.com. The media still refuses to report things that will give Barry grief, which makes his decline in the polls all the more fascinating.
The media still refuses to report things that will give Barry grief, which makes his decline in the polls all the more fascinating.
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Right. In spite of the State Controlled Media covering for him, he’s in trouble. Now they will probably go all out to impose the Unfairness Doctrine.
We bailed them out so that they could do this?
I can’t understand why more people aren’t ballistic about this slap in the face!
That is the only way they can make a profit. The UAW is killing that company.
It’s probably possible to build simple and inexpensive cars in Brazil...
I’ll never buy another GM car again. Why should I, either the union or obami’s friends get the money. Screw them. A lot of cars are made in the US and by non UAW members!
Appalling, isn’t it?
Obama did not specify it would be American jobs he’d save
In his bid to be king of the world he is just taking care of some future subjects. Besides, the South Americans will come in handy if the US’rs revolt.
LOL!
Yeah. Here comes a GM redux of the Geo Metro. Echoing shell of a body, an interior with all the amenities of a prison cell, and horsepower that would almost enable a Radio Flyer to merge in School Zone traffic.
Comes in four colors: "Wannabe a Commie Red," "Former UAW Job Blue," "Used to be YOUR Money Green," and "Obama Likes Orange." [Actually it's Michelle that likes the orange, but -- you married folks know how that goes.]
All you Yugo and Festiva pilots had better look out!
It’s probably possible to build simple and inexpensive cars in Brazil...// ...................... Inexpensive, yes quality wise probably not that good. I don’t think I’d trust the metal they use. For a throw away vehicle, its probably OK, if the price is way low.
“We bailed them out so that they could do this?”
Yep! They’re just following their usual globalist agenda with their bought and paid for politicians. They’ve proved what suckers we are for allowing this to go on for too many years, so why not??
Keep electing those Rino’s ya’ll!
I did hear on the news that Obama is going to have a ‘Bud light’ with his race baiting professor and the poor cop.
I wonder if that is part of his deal with McCain, since Cindy is a Budweiser distributor.
“This isn’t going to be well received.”
Who is going to know? CBS sure isn’t going to cover it.
Well at least GM knows where they will make money, invest there, not in the ****hole in Michigan.
Who is going to know? CBS sure isn’t going to cover it.
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We know, don’t we. We must keep spreading the word.
zero is doing a fine job, just not for the people of the usa
If we are going to “stimulate” Brazilians, can we pick which ones? Preferably a few gracing the beaches of Rio de Janeiro. ;)
I would post pictures, but not sure the mods would approve. :)
The sooner GM makes more money, the sooner they pay back the taxpayers. Why does it really matter where they get it? Thought everyone on FR was against the UAW.
Well it wouldn't look like this. ;)
Let’s get real.. This is not outsourcing of jobs, these are cars going to be manufactured in Brazil to be sold IN Brazil. Brazil has a national mandate to use corn-based ethanol for some % of fuel, so I’m guessing the engines have to be built accordingly.
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