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General Motors to Invest $1 Billion in Brazil Operations -- Money to Come from U.S. Rescue Program
Latin American Herald Tribune ^ | November 22, 2008 | Russ Dallen

Posted on 11/22/2008 8:23:46 AM PST by Kaslin

Edited on 11/22/2008 12:08:08 PM PST by Admin Moderator. [history]

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."


(Excerpt) Read more at laht.com ...


TOPICS: Business/Economy; Extended News; Government
KEYWORDS: automakers; brazil; farmers4subsidies; generalmotors; gm; uaw
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To: Kaslin

U.S. should not give one nickel to the Big 3. Let them go bankrupt, just like individuals have to.


41 posted on 11/22/2008 9:00:15 AM PST by Tax Government
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To: Kaslin

If the feds want the loan repaid, unlike their gifts to the banks, or the Farmers, GM has to allocate resources for the best return. If GM can make a profit outside the reach of US government hurdles, it will allow for the retention of US manufacturing.


42 posted on 11/22/2008 9:00:19 AM PST by Mark was here (The earth is bipolar.)
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To: hamburglar
UNIONS KILLED DETROIT.

Remember that old adage..."As goes GM, so goes the country"!!!! Dearbornistan is just the first in an eventual USAshkanistan if America refuses to wake up. The only retort to a Dem passed Free Choice Act should be that Congress just made it's choice known! at that point an early retirement 'throw the bums out' party should be scheduled!

43 posted on 11/22/2008 9:01:30 AM PST by CRBDeuce (here, while the internet is still free of the Fairness Doctrine)
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To: mnehrling

That’s decent idea ... not sure what state you live in but paying the sales taxes could eat up a lot of the profit on a wheel-and-deal.

I’ve been hearing radio adds with dealers offering to pay the state taxes with a new car purchase and talk of the requests to the state legislature to put a moratorium on car sales taxes. With budget shortfalls in the billions, I’m sure that will go over well. ;(


44 posted on 11/22/2008 9:02:10 AM PST by Daffynition ("Government is not the solution to our problem, government is the problem.")
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To: Mark was here

This article needs to be forwarded to all the politicians.


45 posted on 11/22/2008 9:02:22 AM PST by learner
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To: Leisler
I think you meant to link here: Wikipedia: Corporatism
46 posted on 11/22/2008 9:03:50 AM PST by egannacht
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To: Kaslin

I understand that the GM plant in Brazil is super efficient, with the parts suppliers all located on the same campus. The sub assemblies, like dashboards, are made right there.


47 posted on 11/22/2008 9:06:07 AM PST by brianr10
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To: mnehrling
The sad part is, with the President Elect and the Congress, I will bet dimes to dollars we will have a bailout. Might as well take advantage and buy up a lot of GM and Ford stock. (it is at record lows).. I am.. even if a bailout flies against everything I believe, I’ll be damned if I am not going to try to get my tax dollars back through the stock.

You can be sure that any bailout makes the UAW members whole, and probably the same for management and bond holders, along with preferred stock shareholders. I would not at all be surprised, however, to see the owners of common stock take a major hit via dilution with the government taking warrants or convertible preferred shares.

Jack

48 posted on 11/22/2008 9:07:30 AM PST by JackOfVA
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To: Kaslin

Helping GM executives but not US auto workers.......


49 posted on 11/22/2008 9:08:15 AM PST by expatpat
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To: Kaslin
General Motors to Invest $1 Billion in Brazil Operations -- Money to Come from U.S. Rescue Program

It was reported the other day that a major bank planned to use the $25 billion it was getting from the rescue package to acquire other banks rather than to fund loans and help free up the credit market.

50 posted on 11/22/2008 9:08:33 AM PST by wideminded
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To: 70th Division
Sorry, but I thought this was about American jobs.

Then you thought wrong. The bailout was to prevent the financial markets from freezing up.

What it has turned into is a fat cat feeding trough.

51 posted on 11/22/2008 9:08:38 AM PST by LeGrande
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To: CRBDeuce
At least the rest of the planet doesn’t have to put up with the ‘Party of Suicidal tendencies’!!!!

Yep.

52 posted on 11/22/2008 9:11:52 AM PST by LeGrande
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To: RC2

Yes we are afraid of the unions, because they will become domestic terrorists with their violence. Recall Kent State. Why did the troops open fire? Because they were tired, worn out, and did not feel like taking any more crap. Why were they cranky? Because they had just finished long stretches of duty on the highways because they were dealing with a Teamsters Strike where the Union Workers were shooting at trucks on the road. Companies are stuck dealing with unions because the government backs them and almost never prosecutes them for violence. The whole reason the Democrats want this open voting fir unions, is for the union thugs know who to target with violence if they do not give in.

In short the Unions get their power out of the end of a gun and people went along with them so no one got killed.


53 posted on 11/22/2008 9:16:08 AM PST by Mark was here (The earth is bipolar.)
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To: Kaslin

Please tell me this is satire. But if not, then the soon-to-be-unemployed Jaime Ardila needs a Medal of Freedom from the taxpayers as he will have single-handedly sunk the auto bailout. Even the unions will be po’ed.


54 posted on 11/22/2008 9:19:47 AM PST by NonValueAdded (once you get to really know people, there are always better reasons than [race] for despising them.)
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To: Kaslin

I recieved this from a friend yesterday.
Video of Ford’s assembly plant in Brazil

http://info.detnews.com/video/index.cfm?id=1189


55 posted on 11/22/2008 9:20:53 AM PST by twistedwrench
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To: Colorado Doug

The car is simply the extended case for the On*Star cell phone.


56 posted on 11/22/2008 9:24:13 AM PST by NonValueAdded (once you get to really know people, there are always better reasons than [race] for despising them.)
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To: egannacht

It’s not correct.

My COV was made in Tennessee, and that site says it wasn’t.


57 posted on 11/22/2008 9:28:59 AM PST by fanfan
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To: Kaslin

Clearly, the “Big Three” need to flee the USA and manufacture their products exclusively in more friendly environs. That’s what businesses are SUPPOSED to do, and that’s what their shareholders should demand.


58 posted on 11/22/2008 9:30:52 AM PST by Lancey Howard
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To: egannacht

Yeah, thanks. Don’t know what happened.


59 posted on 11/22/2008 9:33:52 AM PST by Leisler ("Give us the child for 8 years and it will be a Bolshevik forever. " Lenin)
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To: Kaslin
Well, nearly two-thirds of GM's sales are abroad. GM Asia, GM Europe, and GM South America are, as far as I know, healthy operations, and Buick is reputed to be the studliest car in China, which is the fastest growing and soon-to-be #1 automotive market in the world.

GM's international divisions need to spin off GM North America, tell the UAW to take a hike, and recolonize the U.S. as an expat company.

60 posted on 11/22/2008 9:35:23 AM PST by sphinx
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