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

On Nov 21, 6:19 pm, Bob Brock <bbr...@xxxxxxxxxxxxxx> wrote:
http://www.laht.com/article.asp?ArticleId=320909&CategoryId=12396

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."

(...)

From what I understand, any bailout money from the U.S. taxpayers has
to stay in the U.S. (as it should). Other govts, like Canada, also
need to contribute if the companies are going to remain here.
.

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