It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

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

page: 1
3
<<   2 >>

log in

join
share:

posted on Feb, 9 2009 @ 09:19 AM
link   

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


www.laht.com

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.
(visit the link for the full news article)




posted on Feb, 9 2009 @ 09:19 AM
link   
Ford's most advanced assembly plant operates in rural Brazil
VIDEO: info.detnews.com...

The UAW has disallowed this type of operation in the United States for whatever reason as you will see from the above video.

But come on, using U.S. rescue money, (taxpayer money) to alleviate their pre-mediated pain is not an option in my opinion.



www.laht.com
(visit the link for the full news article)



posted on Feb, 9 2009 @ 09:59 AM
link   
And this is money that doesn't even exist at this point, future debt! I am so sick and tired of these elite busturds getting rich on the backs of my grandchildren and children.



posted on Feb, 9 2009 @ 10:02 AM
link   
OK OP what in the hell can we do to voice our distain for this blatent rape of our rights as citizens and transparency in government operations? They are supposedly by the people for the people!!! This infuriates me to no end!!!



posted on Feb, 9 2009 @ 10:07 AM
link   

Originally posted by antar
OK OP what in the hell can we do to voice our distain for this blatent rape of our rights as citizens and transparency in government operations? They are supposedly by the people for the people!!! This infuriates me to no end!!!


You must mass-unite and protest
not a normal protest, but more than 50% of the american population

spread the word and unite and then protest by whatever means you see fit



posted on Feb, 9 2009 @ 10:12 AM
link   
Brazil is a huge car market, and I think this company is trying to tap into that. If they can make mony off of it, in foreign business, it means they won't need furthering rescue and may be able to pay the money back.

South America is growing, it doesn't surprise me companies are looking at it.

We need these companies to make money first and foremost, if this is how they can go about doing it, so be it.



posted on Feb, 9 2009 @ 10:21 AM
link   
Great to see the the plans to "spread the wealth around" are working out as planned. I guess I was just hoping that the spread would have taken place in the United States. How many auto worker jobs in the U.S. did this save?

I bet the UAW is loving this. GM is going to bypass the union by investing overseas.



posted on Feb, 9 2009 @ 10:24 AM
link   

Originally posted by nixie_nox
Brazil is a huge car market, and I think this company is trying to tap into that. If they can make mony off of it, in foreign business, it means they won't need furthering rescue and may be able to pay the money back.

But that's tapping into profit not revenue
because car prices have not gone down really
cheaper labor but not cheaper prices
and you think you will gain from such a thing?
they will never pay it back


Originally posted by nixie_nox
South America is growing, it doesn't surprise me companies are looking at it.

Cheaper labor is growing(not to be confused with cheap labor)


Originally posted by nixie_nox
We need these companies to make money first and foremost, if this is how they can go about doing it, so be it.

You need execs to increase profit margins that they will never be giving back?
why so?

How will you your neighbours and family benefit from it?

I am not a protectionist, protectionism will not save America
But at the same time this is rescue money to the american people not to the execs.



[edit on 9-2-2009 by ModernAcademia]



posted on Feb, 9 2009 @ 10:25 AM
link   
It is just so typical, not only do they send our jobs over-seas, but to use our money in order to facilitate that. Talk about taking a giant S - - t in the face of American taxpayers.



posted on Feb, 9 2009 @ 10:31 AM
link   
I say good for them, go for it! Really, honestly I think this is absolute best thing in the world for them and our government. Keep on keeping on funneling taxpayer money out of the country...

And when you need another Bailout and have zero tax base because everyone in this country is unemployed, we can all have a chuckle at how stupid you all were in the first place.

That is if we are not too busy killing each other over a bit of rancid meat to be able to live another day.


[edit on 9-2-2009 by Ahabstar]



posted on Feb, 9 2009 @ 10:38 AM
link   
NAFTA the biggest piece of s - - t legislation ever to be introduced to this country. It needs to be repealed as with the Patriot Act.



posted on Feb, 9 2009 @ 10:49 AM
link   

Originally posted by Ahabstar
And when you need another Bailout and have zero tax base because everyone in this country is unemployed, we can all have a chuckle at how stupid you all were in the first place.

That's irrelevant
America will be the next Zimbwabe
50billion zimbwabe dollars to buy a loaf of bread

billion was the new million in american politics
and now trillion is the new billion, and it became so soooo fast this time


what do you think this will do to your currency
how is mugabee still in power?

how did Hitler come into power? Hyper-inflation

an economically destroyed country is very easy to dictate and control
your money is useless, it's just hasn't been officially announced yet


[edit on 9-2-2009 by ModernAcademia]



posted on Feb, 9 2009 @ 12:33 PM
link   
I just wanted to be informed on when we gave a bailout to the automakers. I don't beleive we have gave them any money and this is the reason why we haven't.



posted on Feb, 9 2009 @ 12:48 PM
link   

Originally posted by drummerroy39
NAFTA the biggest piece of s - - t legislation ever to be introduced to this country. It needs to be repealed as with the Patriot Act.


What the hell does this have to do with NAFTA? Look at a map, dude. Last time I looked Brazil was in South America.



posted on Feb, 9 2009 @ 01:25 PM
link   
I bought my used Nissan Sentra for 1000 dollars and it looks and runs great. It's a pre-1995 vehicle.

Let's all get upset about something that's not important, m'kay? That'll be a fun distraction while all hell breaks loose. New cars are not really an issue, except for the powers who want to enslave your children be they Brazilian or American.

1000 dollars for a nicely used car with heat, cruise and all windows, great MPG, etc. This is an issue only for some people. I love being frugal and I see it as a value. Others might say I am a fool. Usually when I say this to others I get the standard "Yeah but there's nothing like a new car which nobody has driven before, ya know?"

...No, I do not know. Is there something connected with new cars and the subconscious male need for "virgins"? Really, you all are discussing the wrong issues. My car's not a virgin, but it's the horse that will get me into the next decade without too much grief. Thanks Nissan/Toyota, for hiring good engineers! Your used cars are clearly the best choice for any smart American.



posted on Feb, 9 2009 @ 01:25 PM
link   

Originally posted by nixie_nox

We need these companies to make money first and foremost, if this is how they can go about doing it, so be it.


Ok, explain to me WHY we need GM to make money first in foremost by whatever means?

Why would letting GM fail, and a new car manufacturer take their place be less desirable?

Why bailout a company that has no real tie to America? And if you just think we should bail out companies, why not send that billion dollars to a company anywhere in the world that makes cars? Like Toyota? At least they have a decent business model?

The reason to bail out an American company is in the hopes that it will help your country by doing so. How is moving more jobs out of the country going to help us? Particularly if the continued loss of jobs means demand for their products drops here in the US? So we lose the jobs, and it undermines our ability to buy the product, and we lose taxes on the wages that would have been paid to the workers, and the sales taxes on the vehicles themselves, what are we left with? Why was it worth it to invest tax payers money in GM? Because the taxes paid by the company are such a big help to the US economy?

finance.yahoo.com...


View: Annual Data | Quarterly Data All numbers in thousands
PERIOD ENDING 31-Dec-07 31-Dec-06 31-Dec-05



Income Tax Expense 37,162,000 (2,785,000) (5,878,000)


So, in the three years noted here, GM only paid income taxes ONCE.

How exactly do you expect giving GM a billion dollars to invest in Brazil will help us? I am very interested in your theory.



posted on Feb, 9 2009 @ 05:50 PM
link   
With the big push to get the stimulus through I am reminded of a few months ago when we had a big push to get the bailout through. Amidst a host of other problems (billion dollar bonuses with taxpayer money, etc) the bailout money has been repeatedly used for purposes other than helping our economy. This is another example of this: www.weeklypoint.com...

In light of GM's misuse of bailout money, Merril's big bonuses, we really should pause and stop to think about what holes we will be pouring stimulus money down.



posted on Feb, 9 2009 @ 10:52 PM
link   
Why is the bailout money going to a foreign economy? You completely #ed your company up, misread the market by designing horrible vehicles no one wants, beg the government to save your asses, party it up with the money we gave, and now you're sending the rest out of the country? Why the # are we saving these companies that are dying through their own stupidity and greed. I thought that was the point of capitalism, the strong and smart survive, the weak and stupid die. What the # is going on in this country?



posted on Feb, 9 2009 @ 11:04 PM
link   
Hey if Obama can cut bankers bonuses. I am sure he can stop Ford using taxpayer cash outside the USA.

But what did you expect from them in the first case?



posted on Feb, 9 2009 @ 11:14 PM
link   
If they were not receiving tax dollars I wouldn't see a problem but they are and the idea behind bailing them out was to stop potential job losses in the US. I wouldn't be surprised if they slowly but surely outsourced jobs at the expense of US workers and it might have been better to just let them fail so new companies could enter the market. A new relatively debt free company with fresh ideas might be exactly what the US car market needs.



new topics

top topics



 
3
<<   2 >>

log in

join