General Motors to Invest $1 Billion in Brazil Operations

uscitizen

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

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."

http://www.laht.com/article.asp?CategoryId=12396&ArticleId=320909
 
This is probably part of the reason why my father-in-law was forced into early "retirement" (read "laid off") a few months ago.....My question: Why couldn't they invest that money in American Operations?
 
Is it because GM have a chance at making some money from this Brazilian operation?

Most likely. I just wonder why they can't figure out how to turn a suitable profit here in the states. I think they can make a profit while providing US jobs, but I also believe they're more interested in profits than providing people in the states with jobs. How many millions does a CEO need? This might be sound business practice but it is terribly unpatriotic, IMO.
 
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Most likely. I just wonder why they can't figure out how to turn a suitable profit here in the states. I think they can make a profit while providing US jobs, but I also believe they're more interested in profits than providing people in the states with jobs. How many millions does a CEO need? This might be sound business practice but it it terribly unpatriotic, IMO.

Don't get me wrong, if it were my tax dollars being invested in Brazil, or somewhere else, at the behest of corrupt and incompetent corporate whores, i'd be pretty angry as well.
 
I think I mentioned a while back that a restriction on ther bailout money should be that it stay in the USA.

I wonder how much of the bank bailout went offshore. Perhaps that is why we can't find out where it went?
 
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