Hope ya'll bought stock in K-Y

[Max]

GM to invest 1 billion in Brazil operations money to come from us rescue program.Taking jobs away from american people.If this happens i will never buy another GM product.

[Redwolf20]

Pretty easy to see why. No UAW in Brazil.

Plus isn't Ford's newest and most advanced flex line plant down there somewhere as well?

[Al Robinson]

Originally Posted by Max

GM to invest 1 billion in Brazil operations money to come from us rescue program.Taking jobs away from american people.If this happens i will never buy another GM product.

Not only that, as part of the agreement to recieve the last bailout money. They were told by congress to restructure. They did. By laying off 10,000 white collar workers. They're not part of the UAW. Welcome to the new America.

[KILLER74Z28]

Okay, calm down… Mostly likely the plant will be building small vehicle that are not sold in the US. It’s jumping to conclusions that cause multiple rumors full of misinformation. No need to get your britches in a bunch until you have facts… Kapeesh

[KILLER74Z28]

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


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.

Meanwhile, he cut the company's revenue forecast for this year by 14% to $9.5 billion from $11 billion, as the economic crisis began to cause rapid slowdowns in sales.

GM already announced three programs of paid leave, and Ardila added that GM Brazil "is going to wait and see how the market behaves in order to know what decision to take" with regard to possible layoffs.

For Ardila, the injection in Brazil's automobile sector of 8 billion reais ($3.51 billion) recently announced by the federal and state governments of Sao Paulo "has already begun to revive sales," which fell by 12% in October.

The executive said that the company will operate a "conservative" scenario in 2009 with an estimated production of 2.6 million units, and another more "optimistic" that contemplates sales of 2.9 million.

This year sales will reach 2.85 million vehicles, which represents a growth of 15% over last year.


Russ Dallen with EFE in Sao Paulo.

See, it’s to protect the products GM sells in Brazil's automobile sector.

[CamaroScotty]

Chysler tried Brazil.....and closed the plant.

Then Tecumseh started making small engines there in the same plant, bought from Chrysler....the pulled out and went to canada.

Tecumseh had armed guards outside the door - "Welcome to Tecumseh" I guess.....oh, put they since pulled out. Quality went way down.....Pretty much killed the Tecumseh small engine as we know it. Now the "name" has been sold to another company.

[PQ]

On the outset, sounds like BS. But if you think about it GM needs to become profitable again. We aren't buying enough cars here right now to hold up the workers. Though I am one opposed to the Feds giving ANYONE money for anything related to business, sometimes it has to be done. America may be changed forever allready. Lets just hope we don't turn into Russia.
:flag1:


But to the point at hand. I hope everyone doesn't freak out too much about this. It could be a big revenue booster for GM.