Did You Hear The One About … GM Outsourcing $1 Billion Of The Bailout Money To Brazil?
Just food for thought while all this “imaginary” money is being thrown around by our government to people who practiced bad business choices and such. I realize the article is dated a couple months back … However, sometimes little ‘treasures’ take time to surface.
I heard Glenn Beck bring this one to the top today:
Sao Paulo, Nov 19 — US automobile giant General Motors (GM) plans to invest $1 billion in Brazil to avoid in their Latin American unit the kind of problems it is facing at home, EFE reported Wednesday.According to Jaime Ardila, chief of GM Brazil-Mercosur, the funding will come from the bailout package from the US 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.
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.
Ardila said the injection in Brazil’s automobile sector of eight billion reais ($3.51 billion) recently announced by the Brazilian government and the provincial administration of Sao Paulo “has already begun to revive salesâ€, which fell by 12 percent in October.
He said the company will operate in a “conservative†scenario in 2009 with an estimated production of 2.6 million units.
This year sales will reach 2.85 million vehicles, which represents a growth of 15 percent over last year.
Three US auto behemoths - Ford, GM and Chrysler - have appealed to Congress for a $25 billion bail-out package to save their firms from imminent collapse, warning that it could be catastrophic for the economy as a whole.
GM said it could run out of cash in weeks and cannot wait until president-elect Barack Obama - who has promised to help the industry - is inaugurated in January.
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Buy FORD.
Yes, that makes sense
It fit’s in to the rest of this bullshit.
The unknowing masses of useful idiots who voted in these weasels need to wake up and realize they’ve been bamboozled. Sold down the river, fed a pack of lies, pissed on and told it was raining.
Either our politicians are evil NWO types who are trying to destroy our economy so they can have complete power……or….they are some of the dumbest people on the face of the planet and I don’t think that Nacy is very fucking bright!
A friend of mine just got back from a trip down there to Rio, Sao Paola and also to Buenes Aires.
According to him, there wasn’t anything on the road except for Ford & Chevy vehicles. There was a 42 lane highway in Buenes Aires, 21 lanes each direction that he saw with bumper to bumper traffic nothing but Ford and Chevy.
He did not see any Mazda, Toyota, Nissan or European cars at all while on his trip. Nothing but American Brands. I suppose that the outsourcing is for the plants making autos down there, and they must be quite profitable.
Ford did not request loans from Congress, nor did it receive them. Our position remains the same as it was in December:
http://media.ford.com/article_display.cfm?article_id=29604
Scott Monty
Global Digital Communications
Ford Motor Company
With the big push to get the stimulus through I am reminded of a few months ago when we had a big push to get the bailout through. Amidst a host of other problems (billion dollar bonuses with taxpayer money, etc) the bailout money has been repeatedly used for purposes other than helping our economy. This is another example of this: http://www.weeklypoint.com/2009/02/09/gm-uses-bailout-money-to-invest-in-brazil/
In light of GM’s misuse of bailout money, Merril’s big bonuses, we really should pause and stop to think about what holes we will be pouring stimulus money down.