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General Motors to Invest $1 Billion in Brazil Operations — Money to Come from U.S. Rescue Program
- Text size
Russ Dallen
Latin American Herald Tribune
November 21, 2008
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.”
- A d v e r t i s e m e n t
“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 ($3.51 billion) recently announced by the federal and state governments of Sao Paulo “has already begun to revive sales,” which fell by 12% in October.
The executive said that the company will operate a “conservative” scenario in 2009 with an estimated production of 2.6 million units, and another more “optimistic” that contemplates sales of 2.9 million.
This year sales will reach 2.85 million vehicles, which represents a growth of 15% over last year.
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November 21st, 2008 at 2:02 pm
Let GM DIE!
November 21st, 2008 at 2:15 pm
LOL.
Now I get the joke when asked by Senator if the money would be spent overseas or stay in America.
I remember the CEO’s of the Big 3 say “No, it would not be spent overseas”.
South America is not overseas.
Silly us have to ask the right questions to find out if you are cheating on us!!!
Because you are obviously not going to reveal anything unless made too.
The concept that money not be spent from the bailout on certain items is like wondering how the shell game works!! How does the ball get shuffled around like that??Gee….
You steal from Peter to pay Paul. Pay Peter with Bailout money.
No bailout money went to Paul, Mr. Senator!!
This is exact same thing the banks will do. How do you know which is which??
That’s why absurd for Paulson to say the financial bailout was not designed to help the Big 3.
The money spends the same no matter where it comes from.
Money does not have a designated purpose written on it. EX: 5$ bill..only to be spent on taxes.
You can buy anything with that 5$ bill.
November 21st, 2008 at 2:36 pm
Latin American Herald Tribune published this story from Venezuela. Someone needs to do some fact checking before passing along rumors.
November 21st, 2008 at 2:41 pm
works for me. i pay taxes. i can’t feel anything.
e
http://www.aniboom.com/video/301279/obama-plan/
November 21st, 2008 at 3:29 pm
Why not create jobs for South America, they’ve been doing the same for China! Corporate America has destroyed our country. Glad I’m retired, I feel so bad for the younger people, that will have to fight for survival. Down with the criminal Federal Reserve and the Bilderbergers…pure Evil!
November 21st, 2008 at 3:40 pm
GM has been making a nice piece of change down there manufacturing the flex fuel Cadet, which will run on any combustible liquid, but none of so-called ‘Big Three’ can produce an economial flex fuel car for the US maket. Osama Obama will close the plants anyway with his carbon taxes, do grabe the 25 Billion and get the hell outta Dodge. I’d guess they’ll set up all new automated plants in Vietnam, Russia and China, then try to sell their imported crap here for Made in USA prices. What a right lot of lopearred sapsuckers.
November 21st, 2008 at 3:43 pm
Right. They’ll take bailout money and invest it in non-union facilities elsewhere (China, Brazil, etc.) We’ll pay them to eliminate our jobs and then have to pay interest on the debt incurred to do that restructure. . .
November 21st, 2008 at 5:48 pm
http://www.democrats.com/peoplesemailnetwork/88
November 21st, 2008 at 6:28 pm
Did anyone else click on the writer’s name up top^ & come across the article that says he was Convicted of trying to Abduct a 4yr old gir?!? WEIRD!
November 21st, 2008 at 6:45 pm
Hey NeoCon Narc, there’s no apostrophe in CEOs, it’s a plural, get it?
Oh, but English is not your first language, sorry!
I’m part of Obama’s apostrophe brigade!
November 21st, 2008 at 6:57 pm
And we’ll still pay top $ for a vehicle in which labor costs have been slashed by 90+%!!!! No environmental protections, unions, no ergonomic protection at all!!! But here in Ohio…You have “NO” ‘right’ to breaks, lunches, non-working hours, or severance pay for adults!!! Ohio Revised Code 4111!!! And that’s in many parts of the country!!! Ain’t that sweet??? Goin’ backwards in a hurry aren’t we??? Many people find it to believe until I show them the pamphlet I carry in my wallet!!! “All ‘HAIL’ Thermal Expansion!!!”
November 21st, 2008 at 7:43 pm
Thers’s a great article in the Brazilian Times,about the future spending of the 25 Bazillion $ gift.
They said Gm plans on spending the big fat American gift on making the plant there better(cheap labor)google it.
We work for GM and I was posting the need for the bailout, but now I just say screw them!
I know they have the $$$, they want to scam us just like Paulson did.
Times are going to be hard but we will all pull together and will win in the end.
I feel compelled to write “All Hail Thermal Expansion” except I don’t know exactly what that means.
November 21st, 2008 at 7:56 pm
Brazil is run by a marxist narco-terrorist, Lula Da Silva. And we’re going to send money there to help the US economy how? I get that GM can make more money by building cars in a dictatorship where the workers have no rights and the environmental “regulations” (wink,wink,nudge,nudge) consist of buying some government minister a house for his hookers, but I’m missing the part where this helps the American worker. Can anyone help?
November 21st, 2008 at 9:04 pm
well of coursE Brazil deserves some corruption money from the WORLD BANK.. as they DID sell the rainforest to them ..
November 21st, 2008 at 9:22 pm
none of you cowards are gonna do a thing about it! so stop complaining and go to bed.
November 21st, 2008 at 10:32 pm
baxter666:
The part where the help for the American blue collar jobs comes in is that the cleaning crew for the corporate headquarters will stay on the payroll of some fourth party subcontractor until GM moves the HQ to Dubai.
Cmon, you could have figured out this one on yer own…
November 21st, 2008 at 10:35 pm
Arggh #10. You got me on a grammar error. Yer right, English is not my first language Matey!!!
Crappy Pirate are!!
As for #15.
There are lots of things I do to support the cause.
I do not use banks or credit cards and never have for over 20 years.
I do not buy things from China. I shop lots of places before finding made in U.S.A.
I have never voted.
I only buy American cars like GM or Ford.
I walk and ride the bus even though I own a nice car.
I pay cash for everything and own all my needs.
I do not buy at Wal Mart, or places that buy cheap products from other countries.
I write my Congressman on each bill I disagree with.
But you are right. I could be doing more.
The power we still have is what we spend our money on. I boycott anything I disagree with.
If Americans would no longer invest in stocks, only buy American, stop using banks and CC’s and allowing them to regulate laws against cash, and NOT VOTE for a system that is rigged.
Then we would not be in the mess we are.
They are our drug dealers and we are their addicts. As long as I give them my money or use them. Then I am a prisoner.
You don’t have to go shoot or fight anyone to bring down the NWO. You just have to learn to live without their drugs.
November 21st, 2008 at 10:52 pm
I didn’t authorize them to take my money. Off with their heads!
November 21st, 2008 at 11:16 pm
We must do all we can to save GM, They are one of the greatest American companies,
I just amazed and disgusted at how many Americans show no Pride in their country not supporting an American company and couldnt give a damn less if all our manufacturing disappears. I think that these magizines have brainwashed the people to think that foreign cars are superior, I think that was done to drag down the American manufactures. I don’t understand how people can be so mindless and lack so much confiedence in their own country.
By the way I think GM Products are superior in styling, innovation, performance and comfort.
November 22nd, 2008 at 12:01 am
Yea, you can see the writing on the wall. The auto industry wants the American Taxpayer to bail them out, and then they all plan to move offshore taking their jobs and their taxpayer booty with them.
November 22nd, 2008 at 12:38 am
#1
second that!
November 22nd, 2008 at 2:33 am
http://www.expansions.com
November 22nd, 2008 at 4:59 am
I had a guy at work the other day saying “hey, GM in Australia shedding jobs CAN’T be allowed to happen!” (for all the usual economic reasons).
To hell with ‘em! I said.
They got to where they are today by making what people want. If tastes change.. Boo Hoo! They’ve held back and destroyed Electric cars (which I and many others would buy in a flat second) for many many years. Now they want public money to bail them out so they can continue to make crap that hurts the planet and is old obsolete technology.
Nope!
You lived by the sword. Now die by it! The workers will get other jobs. Or GM can change to making products people want.. like totally electric cars… and start their journey to riches over again.
November 22nd, 2008 at 9:02 am
The big three automakers took the jobs away to cheap oversea labor. The big three should not be bailed out period. One of the big three sold our last steel mine to China, and also used the last government bailout loan to buy another car company out. So I think they should not recieve squat light up the congressional switchboard tell our reps to vote and say NO.
November 22nd, 2008 at 9:25 am
# 19, As I sit here reading your post,I’m watching the morning news CNN 8:16 central time.
The story goes… While Gm on the brink of bankruptcy. GM is looking to expand in China,
You can only show loyalty where loyalty is given, to the workers and consumers of your product.
I’m quite sure my husband will be laid off by Xmas,and I will say proudly he will go work for Toyota or Honda or any other loyal foreign Co.
You may disagree with my long term plan for my entire family, but we have to eat, we need shelter, and power and so on….
They are selling us out,trying to get our tax dollars to start up cheap labor in Brazil and China.
I would suggest you write congress and do a little more homework on how your being screwed.
Do you work for them?
November 22nd, 2008 at 9:43 am
Brazil is one country that has their shit together. The US should definately be taking notes. They are one of the only totally self-reliant countries on this planet. The current US structure is completely co-dependent and toxic….by design.
November 22nd, 2008 at 11:21 am
So basically, they’re using US money to invest in other countries, basically in the attempt to equal out the power of nations, allowing a nice transition to the one world government. Swell.
November 22nd, 2008 at 12:09 pm
I am sorry to hear your husband works for GM #25.
And I agree with your outlook on loyalty when it comes to feeding your family.
I bought a GM car because I wanted to support U.S. jobs.
I do not believe GM is really going to go bankrupt anymore than I fear the sun coming up.
This is an excuse to layoff the American worker for cheaper workers in other countries.
The general consensus is that GM builds a longer lasting and better cars than 3rd world.
But shareholders want more profit and this is their solution.
I agree that GM is no longer an American company if these other plants opening in China, Russia, and Brazil are true.
They can get those countries to buy their products because I will not buy GM again if they betray the American workers.
The stories of GM spending 18 billion recently shows how they are working harder to look poor than looking like conservatives.
Corporate Terrorism begins with any company that has a hand in the government finances or defense department that cannot fail.
Anyone who takes this money should be Boycotted.
Paulson needs to be tracked down to whatever country he flees to after Jan 21 and given a special extradition to a ship for punishment.
These CEO’s need to be fired and fined until they have no money left.
November 22nd, 2008 at 1:49 pm
@26 Internal patriot says :
“Brazil is one country that has their shit together. The US should definately be taking notes. They are one of the only totally self-reliant countries on this planet..”
Da Silva says:
“We are going to create the conditions so that everyone in our country can eat a decent meal three times a day, every day, without needing donations from anyone,” he said at the launching ceremony in Brasilia. ”
The BBC’s Tom Gibb reports that most of Brazil’s projects for the long-term elimination of hunger are still on the drawing-board, with serious arguments within Lula’s administration on how to proceed.
BBC: In Brazil, a nation of about 170 million, about 46 million people live on less than a dollar a day.
SAO PAULO, Nov. 8 (Xinhua) — Brazilian President Luiz Inacio Lula da Silva on Saturday called for a “new world financial architecture” to be built in the wake of the current financial crisis.
yeah, Brazil rocks!
November 22nd, 2008 at 2:28 pm
http://www.imfsite.org/recentfin/brazil2.html
Brazil has been bought and paid for by the establishment.
November 22nd, 2008 at 5:37 pm
Ford Motor Company A little history on modern civilization:
Everything that we love about modern America was created by The Ford Motor Company and Thomas Edison.
General Motors is a copy of Ford by a consortium of investors.
From the beginning of time and up until the early 1900*s and the development and mass production of the automobile by Henry Ford, founder of the Ford Motor Company, the vast portion of the population walked from here to there and worked barefooted like draft animals on farms.
The first mechanized transportation came with the railroads in about 1850. Railroads did not serve a statistically significant portion of the population. By 1875 street cars were coming into use in the largest cities, being first pulled by horses.
With the advent of Henry Ford*s Model A automobile regular men of normal intelligence had for the first time in the history of the earth the ability to produce their own goods and get them to market.
The Ford Motor Company also invented and put into place the device called a tractor. This machine liberated hundreds of millions of men and women from the incomprehensible drudgery of subsistence farming world wide.
These tractors were also used to power portable lumber mills and some mining equipment. With this tool it did not take long for the intelligent segment of the population to start making things and get them to market. In a few short years, other men built machines that could fly.
When we hear talk in the media of Ford or GM going bankrupt and the ignorant commentary that follows it is necessary for those of us who know the score to attempt to shed a little light on the subject.
Here goes:
The steel industry was created by the Ford Motor Company. Prior to autos, steel was used for the railroads and the making of guns and shrapnel for war. Ford can be credited with supplying the demand for enough steel of many shapes and grades to build America.
Ford can also be credited with causing the glass industry to expand exponentially.
With the manufacture of millions of cars comes tens of millions of rubber tires and a demand for copper wire and the beginnings of electrical controls. Gears and rivits provided a hundred thousand good jobs and sent thousands of young men and women to medical school.
The machine tool industry and everything that spun off from it was a creation of The Ford Motor Company.
Ford also created the airline industry and the planes to support it. The Ford Tri Motor is still in use in rural South America today.
It is not a stretch to note that every manufactured item anyone surfing the Internet can see was a direct result of the industry created around the Ford Motor Company.
It is also a demonstrable fact that more people have had their lives made livable as a direct result of the operations of the Ford Motor Company than all the religious figures, politicians, doctors, do gooders and wars for peace combined since the beginning of time.
It is a demonstrable fact that everything good about modern America was created by The Ford Motor Company. This includes every industrial device ever created or manufactured and all the benefit this has brought our families and country. Every little girl playing piano is the direct result of good parents and the industrial activity created by The Ford Motor Company.
Because the high technology product of The Ford Motor Company liberated mankind from the status of draft animals the super rich realized that their monopoly on power was beginning to wane. The super rich, who profited handsomely from doing business with the Ford Motor Company, began to make war on it. Now, after 110 years of making America all that it could be the super rich are killing The Ford Motor Company.
Early in the 1990*s GM was ordered to open manufacturing plants in China of face a bankrupting recall of every car it had ever built.
The labor unions, protected by the government, forced unconscionable elements into their contracts but still Ford and GM survived.
Lamentably the American people have grown fat and lazy with all these developments and cannot now see or understand what is about to happen. If America loses the domestic ownership and operations of The Ford Motor Company the citizens can expect to return to draft animal status in short order. It is that serious. The new foreign owners will not use American suppliers for even one screw, nut, or bolt much less, paint, engines or transmissions.
The demonstrable fact that not one American politician holding high office comes forth and says the bankrupting of The Ford Motor Company cannot, shall not and will not happen is proof that there is an organized conspiracy to dehumanize the American People back into draft animals.
Nothing can do as much damage to America, and the American People, as the bankruptcy of the Ford Motor Company.
Protest this with as much vociferation as you can, the life you love depends upon it.
November 22nd, 2008 at 11:09 pm
Thanks Narc,
My fear isn’t that they won’t get the bailout anymore,it is that they will.
I now know that they want it to further their progress as a larger corp in the world, stealing more of the americans money to fund the sickning project.
There comes a point when you have to say enough is enough.
I hope they don’t get it.
Please know that if they don’t, so many people and I mean millions will loose their jobs.
But why I feel so harsh about this is very simple,America was built on auto industry,steele,
GE, and various others.
I believe it is shameful to work for a Co. that sells Americas last steele Co. to China for profit,
they then outsorce millions of union jobs to china and others.(cheap labor)
They stop producing good quality progressive products( here only)
They then begin to open new plants in other less operationl expense countries,one at a time under the radar.
They are definately a CFR and Buillderberg.
It’s so intangled and so deceptive, evil if you will.
My heart is with America.
I say to GM… Sit in front of us America on C-span,let us watch you lie and grovel.
Say your lies to the fake media machine,I’m enjoying the show.
You can not have my family or my dignity.
I hope if any of you bump into an unemployed auto worker you have compassion,
Please don’t blame them, they are probably close if not now going to be in need very soon.
November 22nd, 2008 at 11:41 pm
Joe #31 -
Joe.. I disagree with most of what you said.
Ford invented a car to compete with a horse.
Such things as tractors were “created” by the ingenuity of people who figured out how to modify the car enegine to their advantage.. to drive a variety of loads..saw mills, farm equipment through modification of Ford basic car chassis.
Ford simply had the money the few individuals didn’t have or perhaps the desire figuring indepndent people would come up with thier own ideas or copy what they saw others doing without the legal implications we encounter today.
Ford was good with the car.. Carnegie was the steel man… and he was not so innocent either.. he was one of the early “Globalists” in his ideals.. He knew how to slip under the tax radar as he was one of the ones who supported the banks as well.
Joe.. I expect you have a dog in this fight.
The bailout the auto regime is asking for is more to keep the UNION “fix” going than the cars…
Ford is as dead as Sam “Walmart” and their foloowers are not the shrewd visionaries their founders were.
To hell with any more parasites getting their hand in the US citizens pocket.
\
Fire the bastards and let them collapse..I can afford to see Ford and everyone else fail if that is what it takes to get this country back on track. We are overdue.
This country is more important than any bank or carmaker. This nation existed before and without any of them just fine.
I am not afraid to get back in the business of being a free human at any cost.
November 23rd, 2008 at 4:49 am
Let these greedy jerks collapse! I’ve had enough of this. If they pull this, as far as I’m concerned, this is stealing money from U.S. taxpayers!
November 23rd, 2008 at 9:28 am
T R E A S O N !!
November 23rd, 2008 at 2:12 pm
Isn’t that special? GM is investing in another country to keep that country’s workers employed using YOUR tax dollars while you lose your jobs. Nice, eh?
Still that they need or deserve that corporate welfare now?
November 23rd, 2008 at 2:26 pm
Job Losses Surge as U.S. Downturn Accelerates (Wall Street Journal)
It’s remarkable how fast the unemployment rate is increasing” in several states, said Luke Tilley, a senior economist at IHS Global Insight. “We are now seeing the full ripple effects.”
In October, month-over-month unemployment rates increased in 38 states and the District of Columbia. Unemployment rates held steady in seven states and fell in five. Many economists forecast the national unemployment rate, currently at 6.5%, will top 8% in the next few months.
Full article:
http://online.wsj.com/article/.....lenews_wsj
November 23rd, 2008 at 4:06 pm
AIG has been using the money it got from the government to pay to European banks that got hit by mortgage-backed securities. What’s new? It will just get worse with the Re-distributor-In-Chief come January.
November 24th, 2008 at 8:20 am
help with energy independence shop store and donate
http://hydroproducts.flyingcar.....p;cat_id=4
December 2nd, 2008 at 1:51 pm
yeah funny thing that GM makes CHevy,Buick,Pontiac,GMC,Saturn,Hummer, and SAAB so if u own any of these cars your value will fall if GM Dies
February 2nd, 2009 at 2:12 pm
this article is quote unclear…
Is GM investing in manufacturing operations in Brazil ? do they even have plants there ?
Is GM is simply trying to increase their sales in Brazil (which they consider an emerging market) and we’re going to make the cars they sell in Brazil here in the USA ?