US stimulus dollars for GM being used to stimulate Brazilian economy

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What a patriotic thing for GM to do.

http://www.laht.com/article.asp?CategoryId=12396&ArticleId=320909

General Motors to Invest $1 Billion in Brazil Operations -- Money to Come from U.S. Rescue Program

By Russ Dallen
Latin American Herald Tribune staff


February 9, 2009

SAO PAULO -- 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."

"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.
 

William Haskins

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if they're going to rebound, they're not going to do it with the significant demands of american unions.
 

donroc

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When we lived in Brazil in the late '80s, we drove their Chevy Monza, which seemed identical to our short-lived Cadillac Cimmaron. Ford has a successful plant there as well.
 

Plot Device

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When we lived in Brazil in the late '80s, we drove their Chevy Monza, which seemed identical to our short-lived Cadillac Cimmaron. Ford has a successful plant there as well.

I realize Ford has a succesful plant there. And I also realize that GM has other operations overseas. But the point is they're spending their bailout money outside the USA. If it weren't bailout money it wouldn't piss me off so much.