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US giant General Motors will invest $540 million to produce two low-emission motors in central Mexico
The latest project for GM in Mexico would create 500 direct and another 500 indirect jobs in its plant in Toluca, Calderon said.
GM has four plants in Mexico, and has invested some $5 billion here since 2006, Calderon said.
GM was left reeling by an industry slump when the global economic crisis hit. It received 49.5 billion dollars from the US Treasury and emerged from a bankruptcy res
The move by GM, flush with cash after its 2009 restructuring in bankruptcy, follows other investments in recent years by American, European and Asian automakers seeking to produce more fuel-efficient models in Mexico.
Mexican President Felipe Calderon welcomed the GM news, announced on Thursday, as a vote of confidence in Mexico, where rising drug violence has worried some foreign companies. "This action shows confidence in Mexico and the conviction of one of the most important companies in the world that Mexico is a safe and productive place to invest," Calderon said at an event in the central industrial hub of Toluca, where GM operates one of its five facilities in the country.
Originally posted by korath
Well, on the bright side, it'll help to keep some of the illegals from coming over here looking for work.
Originally posted by jibeho
Originally posted by korath
Well, on the bright side, it'll help to keep some of the illegals from coming over here looking for work.
Just hire the "coyotes" to make a return trip. Problem solved.
Originally posted by Boreas
Originally posted by jibeho
Originally posted by korath
Well, on the bright side, it'll help to keep some of the illegals from coming over here looking for work.
We'd have to get over the wall first. D'oh!
Originally posted by groingrinder
If the government would have handed every American citizen $100,000.00, it would have done much more to stimulate the economy instead of bailing out GM and the Banks. People would have bought cars and lots of other stuff and the money would not have gone to Mexico. But noooooooooooooooooooo, lets give the money to people who have a proven track record of screwing America to help themselves.
So far all the stimulus money amounts to 11 trillion dollars. There are approx 32 million adults in America. This money could have paid every adult in America $343,750.00. And it would have had better effect.edit on 1-26-2011 by groingrinder because: (no reason given)