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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

| Access Comments


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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 Hadrian the Seventh : " If you think the British conducted the Crimean W ..." MANFRED the Heat Seeking OBOE: "forWAR'd: It doesn't matter who's in office. The ..." NaCly Dog: "The SAS may need to save the UK. ..." whig: "17 And, the glorious Brits have just named a nomin ..." Louis Nolan: "Not that simple. 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