« BACK  |  PRINT

RS

MEMBER DIARY

GM bailout money going to good use

in Brazil H/T: Drudge

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.”

Tags: ,
Get Alerts