FlintTalk.com Forum Index > Political Talk Topic: General Motors to Invest $1 Billion in Brazil

Author    Post   Adam F L I N T O I D General Motors to Invest $1 Billion in Brazil Operations -- Money to Come from U.S. Rescue Program By Russ Dallen Latin American Herald Tribune staff 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. 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. Mon Feb 02, 2009 10:33 am  Ponycar F L I N T O I D I've never owned anything but a GM, or Ford. Now I ask myself why ? Am I really doing my part to help american auto workers ? GM has NO integrity. _________________ A government big enough to give you everything is also powerful enough to take it all away. Mon Feb 02, 2009 11:19 am  back again F L I N T O I D if g.m. does this i will never buy another g.m. automobile or truck. Mon Feb 02, 2009 9:13 pm  pan8 F L I N T O I D I drive a Dodge Diesel, can you imagine my "shock and awe" when i discovered my beloved Dodge was hecho en mexico? Sigh. We are hanging ourselves with the ropes we use make. Sorry Vladimir hope your are not turning over in your tomb. Pan8 Mon Feb 02, 2009 9:28 pm  twotap F L I N T O I D Hey LT you could always buy one of these. Link _________________ "If you like your current healthcare you can keep it, Period"!! Barack Hussein Obama--- multiple times. Tue Feb 03, 2009 9:09 am  back again F L I N T O I D ha ha ha ha...hell noooooooo!!!!!!kinda thinkin bout a year one cobra or something like it....... i mean.....since you won't let me cruise the nova for the chicas!!! Tue Feb 03, 2009 11:05 pm    Display posts from previous:   All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First

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