GM bailout money used to beef up GM Brazil

Source: http://www.chinaview.cn/index.htm

The General Motors Corporation (GM) has decided to invest 1 billion U.S. dollars in Brazil to expand business there, local media reported Tuesday.

The investment was part of a U.S. bailout package and would be used to upgrade car production lines before 2012, said Djame Adila, a GM's official in charge of the markets in Brazil and other member-countries of the South American Common Market which also groups Argentina, Paraguay, Uruguay and Venezuela.

Read more: http://news.xinhuanet.com/english/2008-11/19/content_10381498.htm

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So, US taxpayers fund GM's expansion/upgrades in Brazil, but not in the US.

GM has also opened a new $300m plant in Russia on Nov. 7.

I hope you will write your Congress about this if you believe US taxpayers
should not be bailing out GM so that it can invest overseas.

This is why the US worker is in trouble.

on the form that the investment takes. Something similar must have been done at earlier dates when GM acquired Vauxhall in the UK for example. It may well be that the production lines will be solely for the home markets for Russia and Latin America in this instance.

Aside from that I wasn't aware that GM had received any bailout funds yet ?

where did the chinese government get the inside news on a deal with gm and brazil? there is not another news source in the world that confirms this press release.

GM hasn't received a thin dime. This is news from Xinhua,the Chinese official news agency. This agency is a propaganda arm of the government and has a history of faking news reports, most recently the report on the Shenzhou7 mission to space in September of this year. The report described in detail the launch but was dated on the 25th. The mission didn't launch until the 27th. But don't believe me. Just do a simple Google search. Also, look up GM do Brasil. There is no mention of any plant expansion. They are, however, doing a lot better than the parent company. And again i must ask, how can you give away money you don't have yet?

I'll have faith in your business plan when you dust off from the drawing board the electric car. What made you lease them for $600.00 month and return them at the end of the lease to be compacted? Was it something that you didn't want the American people to have? You want to change your mind about that pretty soon?

I'm waiting... not holding my breath while waiting (and not buying your stock when I could have bought below 2 dollars stock in Ford.