--------------------------------------------------
General Motors to Invest $1 Billion in Brazil Operations
Posted Sat Jan-31-09 10:04 AM
Source: Latin America Herald Tribune
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.
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.
Read more: http://www.laht.com/article.asp?
CategoryId=12396&ArticleId=320909
--
Pay your taxes so the rich don't have to. Atheist #2211
>
>Now Why in the Hell are US taxpayers funding jobs in BRAZIL???
>With US taxpayers' money. WITH A BILLION US DOLLARS?
>
To make the company viable again? With a few more moves like that,
people may want to buy their stock again..
>General Motors to Invest $1 Billion in Brazil Operations
>Posted Sat Jan-31-09 10:04 AM
>
>Source: Latin America Herald Tribune
>
>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.
>
>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.
>
>Read more: http://www.laht.com/article.asp?
>CategoryId=12396&ArticleId=320909
Justice is when you get exactly what you deserve.
--Neal Bortz