PDA

View Full Version : General Motors announces $1 billion plan to build more vehicles... in Brazil


Fire Haley
07-29-2009, 06:39 PM
Buy Union!


General Motors is spending more money where it counts: Latin America.

The Latin American market has been generous to the struggling automaker despite struggles at home. Today, GM announced a $1 billion plan to expand its vehicle lineup in Brazil.

"We believe the Brazilian market will be very strong, will continue to grow at a rate of at least 5 percent a year and we also believe in the prospects for exports of the new models," Jaime Ardila, GM's chief executive for Brazil and the Mercosur region of South America, said in a statement.

Ardila added that GM showed record profits in Brazil in 2008 despite an global economic slowdown.

Reuters reports that GM will build two new compact models and expand operations at its Gravitai factory in the southern state of Rio Grande do Sul. The two new compacts could also be exported to African countries and other places, boosting GM's presence elsewhere.

The $1 billion investment is part of a larger spending plan across Brazil, Argentina, Uruguay and Paraguay that began in 2007.

http://www.mlive.com/auto/index.ssf/2009/07/general_motors_announces_1_bil.html

-----------------------------

This won't go over well.

SteelersinCA
07-29-2009, 06:49 PM
Awesome, we bail them out so they can give jobs to Brazil, cool.

MACH1
07-29-2009, 07:16 PM
Why keep it in the US and pay taxes on it?

Creating or saving 3 million jobs, even if they aren't in the states. :rolleyes:

AllD
07-29-2009, 08:00 PM
Ethanol powered vehicles at that.

KeiselPower99
07-30-2009, 01:04 AM
Well Obama is creating jobs....in another country. He is aleast keeping half his promise

revefsreleets
07-30-2009, 09:52 AM
Well, like 3000 said, why not? The wages will be more in-line than in the US, and the workers will probably be much more productive. The tax rate in Brazil is 15% corporate, 15% capitol gains (as opposed to 35% in the US). AND Barry had no provision in his shitty bailout that stipulated the US companies had to save US jobs or create US jobs, or even re-invest a dime in the US.

With little oversight, GM is simply doing what's in their best interests....

SteelersinCA
07-30-2009, 11:44 AM
No question they are, but when they were already slated to build plants in China to produce every model car, why Did anyone that supported the bailout think it wouldn't happen?

I suppose we should applaud GM for making sound decisions, but I still fault the supporters of the bailout for being morons.

revefsreleets
07-30-2009, 12:01 PM
My favorite Obama lie is still when he announced that Chrysler was going bankrupt BUT that no jobs in the US would be lost due to it, then announcing like 3 days later that a whole shitload of US plants would close, a bunch of US workers would be let go but NO PLANTS IN MEXICO OR CANADA would close. All the more comical (in a dark comedy type of way) after lying about that was just a short while earlier lying about how it was time to roll back NAFTA.

"You're doing a heckuva job, Obamie!"

steelax04
07-30-2009, 12:34 PM
If they pay back the bailout like Goldman Sachs did, then more power to them.

revefsreleets
07-30-2009, 01:07 PM
If they pay back the bailout like Goldman Sachs did, then more power to them.
They won't. It's pretty much over for GM, methinks...we'll be paying for that horrible deal for a long time.