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November 24, 2008

GM will send $1B of bailout money to Brazil

Now we're even outsourcing bailout recipients.

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."...

I would hope the UAW types would be all over this like stink on shit.

[UPDATE- PA] A commenter is claiming Ardila was misquoted/mistranslated, so the story may or may not be true.

posted by Purp at 10:29 PM

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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."... I would hope the UAW types would be all over this like stink on shit. [UPDATE- PA] A commenter is claiming Ardila was misquoted/mistranslated, so the story may or may not be true. posted by Purp at 10:29 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments Darrell Harris: "410 >Frank Luntz says Cory Booker's tongue-a-thon ..." Elon John: "Nood ..." tubal: "429 Mars has a very weak magnetosphere, if I reca ..." whig: "432 Congressional districts can only be re-drawn a ..." joe, living dangerously: "424 It's nose under the door, or whatever that met ..." 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