General Motors to invest $1 bn in Brazil plant

General Motors to invest $1 bn in Brazil plant

When are American companies going to get it! If they export the jobs to other countries and expect to sell these products to the USA, forget it.
We can’t spend money that we don’t have and we won’t have money unless we work...

I Don't Think So

Bail them out?? No way.
Before they get one cent they should bring all the jobs they sent out of the country back to the States.
The first thing they need to do is fire all the CEO’s and top brass that got them in this mess. They need to give back their huge bonuses and wages before they ask the workers to make more sacrifices. They allowed the labor wages to get out of hand now they pay the price.

GM to invest in Brazil

Where are they going to get the money? Why don’t they invest in their own company? Will Brazil have unions? This whole bridge idea is a joke.

General Motors to invest $1 bn in Brazil plant

Call me crazy, but are they saying that we the taxpayer is going to bail out a company that is going to then send the bucks somewhere else besides the states?
When the Feds. helped Chrysler back in the 80’s it was a loan with a payback date. Chrysler paid on time and also put the money into Detroit and the states.

"According to Jaime Ardila, chief of GM Brazil-Mercosur, the funding will come from the bailout package from the US government and will be used to 'complete the renovation of the line of products up to 2012'."

WHAT!, my tax dollars are going to be used for investments overseas to upgrade assembly plants that take jobs away from OUR country. WOW! no wonder Pelosi and Reid are for the bailout for the big 3, that line of thinking is consistent with ALL the rest of their smart decisions lately. Does anyone know how to go about seeking defection to Canada?

they want our tax bucks

to save their arrogant asses, and then they turn around and invest in another country??? lets build them castles and give them gold toilets while we starve? I say let them all go down the tube, and eat oatmeal with those of us that don’t have jobs now

let them eat oatmeal

Lets see if I got this right taxpayers dollars, going to a factory in “Brazil” American workers losing (or already lost jobs) Any politician that votes to give these car companies a penny of my money will never see a vote from me again. Its time to stand up and fight for OUR RIGHTS and DEMAND this crap stop now.

Will it ever change??

I don’t know why I am surprised by any of this. It’s been this way for as long as I can remember. Let’s take jobs from Americans so they can get better paying jobs (where are those now) and still buy the cheaper products that are imported back into the united states - oh but we can’t afford them because we don’t have jobs...

what are we to do... hmmm... lets raise taxes - must be the government things they can squeeze blood from turnips.

this is the problem

its NOT A BAILOUT - its a LOAN

the money is to come from the moneys already approved to bailout the people that killed our economy

Gee, if they can afford that then they don’t need a bailout...
:confused:
More trouble for auto bailout
November 19, 2008: Auto chiefs find some support in Congress for a $25 billion loan package but a lot more criticism in a second day of hearings about a Big Three bailout.

]
Auto industry executives were back on Capitol Hill Wednesday to ask for a federal bailout but they once again faced an uphill battle in winning the necessary support from Congress for a $25 billion loan package. Before the CEOs of General Motors, Ford Motor and Chrysler LLC even started their comments before the House Financial Services Committee, they faced criticism from the committee’s ranking Republican, Spencer Bachus of Alabama.

“My constituents do not understand why their tax dollars should go to support what they consider less efficient businesses," said Bachus, adding that most of his constituents earn less money than the autoworkers whose jobs would be saved. But House Financial Services Chairman Barney Frank, D-Mass., said it was wrong to focus on the pay of autoworkers when there was not much discussion of the pay of the average worker at financial firms that got government bailouts in October.

“I think the average AIG employee makes a good deal more than the auto workers," he said. Frank criticized those who argued the automakers should file for bankruptcy in order to shed contracts with the unions and dealerships, saying that was “bankruptcy as a spectator sport." He said it would be unwise to ignore the damage that would be done to the overall economy if one or more automakers went bankrupt.

Bachus asked UAW President Ron Gettelfinger if the union would be willing to reopen the labor contract to grant more concessions. Gettelfinger said the union is always talking with the automakers but added that negotiations cannot be a one-way street. “The UAW can’t be the low hanging fruit. While we’re at the table, we’re asking that others come in and sacrifice as well," he said.

[url=http://money.cnn.com/2008/11/19/news/companies/auto_hearing/index.htm:
'When will you run out of money?'[/url]

No bailouts!

Unregistered;114780:
its NOT A BAILOUT - its a LOAN

the money is to come from the moneys already approved to bailout the people that killed our economy

=================================

Still ...the money was suppose to go to GM here in America, not in a foreign country.

i dont even live there but i have to do current events on brazil and i think that brazil economy is pretty weird and im from FL in USA...GO OBAMA

i dont even live there but i have to do current events on brazil and i think that brazil economy is pretty weird and im from FL in USA...GO OBAMA

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Lookin' more like a loan than a bailout...
:confused:
Finger-pointing begins as Senate nixes auto vote
Nov 19, `08 WASHINGTON (AP) - A Democratic Congress, unwilling or unable to approve a $25 billion bailout for Detroit’s Big Three, appears ready to punt the automakers' fate to a lame-duck Republican president.

]
Caught in the middle of a who-blinks-first standoff are legions of manufacturing firms and auto dealers - and millions of Americans' jobs - after Senate Democrats canceled a showdown vote that had been expected Thursday. President George W. Bush has “no appetite” to act on his own. U.S. auto companies employ nearly a quarter-million workers, and more than 730,000 other people have jobs producing the materials and parts that go into cars. About 1 million on top of that work in dealerships nationwide. If just one of the auto giants were to go belly up, some estimates put U.S. job losses next year as high as 2.5 million.

“If GM is telling us the truth, they go into bankruptcy and you see a cascade like you have never seen," said Sen. George V. Voinovich, R-Ohio, who was working on one rescue plan Wednesday. “If people want to go home and not do anything, I think that they’re going to have that on their hands." The automakers - hobbled by lackluster sales and choked credit - are burning through money at an alarming and accelerating rate: about $18 billion in the last quarter alone. General Motors Corp. (GM) has said it could collapse within weeks, and there are indications that Chrysler LLC might not be far behind. Ford Motor Co. (F) has said it could get through the end of 2008, but it’s unclear how much longer.

For now, however, with the federal emergency loan plan stalled in the Senate, lawmakers in both parties are engaged in a high-stakes game of chicken, positioning themselves to blame each other for the failure. Senate Majority Leader Harry Reid, D-Nev., scrapped plans Wednesday for a vote on a bill to carve $25 billion in new auto industry loans out of the $700 billion Wall Street rescue fund. It’s really up to Bush’s team to act, he said. “I don’t believe we need the legislation," Reid said. Treasury Secretary Henry Paulson can tap the financial industry bailout money to help auto companies, Reid said, but “he just doesn’t want to do it." Not our responsibility, countered the White House.

More [url:
http://apnews.myway.com/article/20081120/D94IAPNG0.html[/url]

Corporate Jets

Nice... GM sent their bigwigs to Washington in corporate jets! I bet if the auto companies just fire most of the CEOs and other top officials they would then be in the black instead of the red. Corporate greed should not be bailed out.