GM to Invest $1B of US Taxpayer Bailout Funds in *Brazil*Submitted by Michael Nystrom on Mon, 02/09/2009 - 10:48
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."
This cannot stand. We're heading towards a real revolution if this keeps up.