http://www.leftlanenews.com/gm-spending-1b-on-brazilian-operations.html
GM spending $1B on Brazilian Operations
by Drew Johnson
Just days after its emergence from Chapter 11 bankruptcy, General Motors has announced it will be investing more than $1 billion in its Brazilian operations. GM will invest the money over the next three years to develop a new family of vehicles.
In all, GM will invest $1.02 billion in Brazil, with the majority of that funding going towards updating its Gravatai plant in Rio Grande do Sul. The Gravatai plant will be expanded to increase overall capacity. The updates are expected to be completed by 2012, according to Automotive News.
GM gave little in the way of details on the new family of vehicles, but the new lineup is being designed for the entire South American market. New small cars are likely on the docket, as well as more rugged vehicles to traverse some of South America’s more difficult terrains.
According to Carlos Echevarria:
“But there is a more fundamental question here.
Pres. Lula da Silva, a leftist, went center right in his first term, was re-elected in ‘06 but has now gone hard left again and is a de facto member of the ALBA, friendly with both Venezuela and Cuba.
His corrupt government is seeking the election of his chief of staff next year, an erstwhile guerrilla fighter, Dilma Roussef...
Moreover, the Brazilians with Chinese and Indian support are even proposing a new intl currency to substitute the US dollar as the currency of preference.....
Brazilian armed forces in the Amazaon are already making direct threats and using caustic, belligerent rhetoric against any US personnel that will be stationed in Colombia, under the bases accord.
Why doesn’t Lula ask his partner in crime Hugo Chavez for the 2 billion????????????? or the Chinese? or the Russians?
Palin is totally right on the underlying political issue but this even transcends the political discussion of energy.
But what is to be expected from this new regime in DC?”
- JP