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 ...
U.S. should not give one nickel to the Big 3. Let them go bankrupt, just like individuals have to.
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.
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!
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. ;(
This article needs to be forwarded to all the politicians.
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.
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
Helping GM executives but not US auto workers.......
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.
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.
Yep.
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.
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.
I recieved this from a friend yesterday.
Video of Ford’s assembly plant in Brazil
http://info.detnews.com/video/index.cfm?id=1189
The car is simply the extended case for the On*Star cell phone.
It’s not correct.
My COV was made in Tennessee, and that site says it wasn’t.
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.
Yeah, thanks. Don’t know what happened.
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.
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