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GM to Invest $1B of US Taxpayer Bailout Funds in *Brazil*

By Russ Dallen | Latin American Herald Tribune staff

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."

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This cannot stand. We're heading towards a real revolution if this keeps up.

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we need to wait and see

we need to wait and see about this....i watched the auto bailout's on c-span very carefully,,,,,and i vividly remember each CEO being asked if all bailout money would only be used in the us. and they went down the line and each overwhelmingly vowed that it would....so ,at the least, they lied and screwed us,,,,which, i guess wouldn't surprise me,,,, but does anyone know if that was an actual clause in the contract not just merely a vocal promise?????

So?

First of all, why is it bad that GM try to improve it's company? You have to ask the question as a business owner:

"What improvements, market and/or products does our company have to produce in order to increase revenue, profits and market share?"

Then, we have to ask the question: "Why did GM ask for bailout money and why did we (the taxpayer) give them money?"

I think it's very clear that a business is going to enter into business in locations where it can be profitable. They were never mandated to build a new plant here in the States. The money was given to keep GM from going into Bankruptcy. They are smart enough to know that there are plenty of cars in the US. They are also smart enough to know that the onerous regulations & union contracts are slowly killing their business.

So, what does a smart business do that just received a lifeline? They try to become profitable as fast as they can. If that means opening a Plant in Brazil, so be it, as long as it's profitable. GM currently has a plant in Russia and it's their ONLY profitable plant.

Final point: They (the automakers) should have NEVER received a bailout of any kind, period. However, now that they did receive it, don't you think it's a good idea to do business where they can actually increase revenue? That loan has to be paid back somehow.

www.coinaxis.com - ~ Learn more about bitcoin/litecoin, and how they relate to the liberty movement.

Agreed. If any revolt about

Agreed. If any revolt about something like this occurs it'll be lead by Huckabee-type populists who know nothing of the virtues of free trade. Unions, welfarism, and over-regulation have hurt the auto industries, so any steps they can take to recover should be welcome. It's too bad it's taken their failures and our money to make it happen.

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I can know of no greater functional movement than a 600lb deadlift. Except a 700lb deadlift. Cuz when you are that strong, it's functional.
www.crossfit.com

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I can know of no greater functional movement than a 600lb deadlift. Except a 700lb deadlift. Cuz when you are that strong, it's functional.
www.crossfit.com

Oh no, not the dreaded populists

So people should be happy to give money to private companies to export their jobs to South America?

No, you're missing the

No, you're missing the point. The money should have never been given in the first place. It's like an homeless drug addict borrowing 20 dollars to buy food and then he ends up buying buying drugs. This is really not a surprise.

So, who do you blame? Do you blame the Politicians that went against their constituencies (calls were 100-1 against) and voted for the bailout? Do you blame the system of government that allows taxpayer money to be spent on ANY of the garbage that's come about lately?

I think we're really missing the point here. The focus should be on the political system and the politicians selling us out for their own benefit.

www.coinaxis.com - ~ Learn more about bitcoin/litecoin, and how they relate to the liberty movement.

Sadly, I don't blame them....

The UAW has pretty-much killed the auto industry here. Why the hell does somebody deserve $70/hr for a brainless job, then get to show up drunk or smoke dope during lunch and STILL not get fired? The unions are holding the corporations hostage in this. Do I agree with the way the corporations are run? Heck no!! but, they're hands are tied to an extent by the unions.
I look for the big 3 to use the bailout money to pay lobbyists in trying to get import tariffs removed...then, they'll build the cars in Brazil and sell them here in the US for a better profit.

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BC
'No people will tamely surrender their Liberties, nor can any be easily subdued, when knowledge is diffused and Virtue is preserved. On the Contrary, when People are universally ignorant, and debauched in their Manners, they will sink under their own weight without the Aid of foreign Invaders.'
-- Samuel Adams (letter to James Warren, 4 November 1775)

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BC
Silence isn't always golden....sometimes it's yellow.

"The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them." - Patrick Henry

You still fall into the trap of Management vs. Labor

This is exactly the what the elites want. Blame it on labor vs. management issues to keep the focus off of them who destroy the currency. A currency that devalues in its purchasing power requires labor to need more money to deal with the ever rising cost of living and providing for their family. Management in turn has to deal with the ever rising costs of doing business due to a devalued dollar resulting in higher cost of goods sold. So management blames labor and labor accuses management of greed and the elites laugh their asses off at the spectacle and gain more wealth and power un-noticed. ......UNTIL NOW!

End the FED!

What's funny-I don't think they realize how angry the public is.

Perhaps they think as long as American Idol and football are on TV, no one will notice what they do.

SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States

SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States

The chickens are coming home to roost !

A friend of mine who is a stock broker told me, "a lot of our economic problems are because American's [citizen's] are investing in Foreign Growth Funds instead of American."

It is not only are our corporations and government investing in our own demise, we [us] are doing a good job of it too.

Disclaimer: I'm not a client of the above stock broker, we are both Marine Vietnam Veterans. I met him at the V.A. Hospital getting our hearing checked. I was in the artillery and I don't know what his hearing problem was. We were both told, that by govt standards we were not deaf enough yet. On the QT, a hearing technician told me, it is harder now to get hearing aides, they are giving priority to the new Veterans coming back from the Middle East.

May not be true. What is the source of this report?

Is this true? From what I have read, GM is indeed investing $1billion in Brazil, but it is being financial by local Brazilian sources, and not from the bailout funds.

http://www.autoblog.com/2008/11/22/gm-not-sending-any-bailou...

Fascism

Gov't in bed with corporations and business!

Not since 1981

.

Give us clear vision, that we may know where to stand and what to stand for - because unless we stand for something, we shall fall for anything.
~ Peter Marshall, US Senate Chaplain 1947

Absolutely unacceptable!

...bump...
I just sent an email to Sen. Specter expressing my disgust...

O.P.O.G.G. - Fighting the attempted devolution of the rEVOLution
Ron Paul 2012...and beyond
BAN ELECTRONIC VOTING!!

Ford already has it's most advanced plant in Brazil

video here:
http://info.detnews.com/video/index.cfm?id=1189
so it isn't unusual that GM would need to join them in order to survive.

In the video you can see supplier paid and benefited workers along side the Ford workers at Ford do Brazil.
http://en.wikipedia.org/wiki/Ford_do_Brasil

The UAW has blocked this type of facility in the United States.

I think the auto manufacturers need this type of set-up to survive. However, GM should not be using taxpayer monies to play catch-up in this regard as it exports US jobs using US taxes to accomplish it.

thanks again susan

it was the ford plant that i had seen referring to in my earlier post.

Ron Paul is my President

Ron Paul is My President

Just a thought re: GM's plan

Ford wasn't able to negotiate with the UAW to bulid/operate this type of facility here but.....times they are a changing (so to speak). I wonder if GM has approached the UAW regarding both the necessity of a facility where both supplier and manufacturer can work along side one another sharing costs and the viability of placing it in the United States anytime recently?

The taxpayer bailout money would stay here!

Boycott GM...

if you haven't already..

It is beyond belief.

The American people are being robbed, and the elite jet set could care less. BUT who will buy their cars knowing what they have done? Anyone in the US? This will possibly seal their doom.

michael,

this has been circulating a while.

it's unbelievable and no way is it acceptable.

we the people have got to stand up against this crap.

Ron Paul is my President

Ron Paul is My President