Follow the money from DC … to Detroit … to Sao Paulo.

Ken’s Take: You have to hand it to the  Detroit automakers … for their transparency … and their  humongous stones.

* * * * *

Excerpted from Latin American Herald Tribune, “General Motors to Invest $1 Billion in Brazil Operations — Money to Come from U.S. Rescue Program”, Feb. 9, 2009 

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.

Full article:
http://www.laht.com/article.asp?CategoryId=12396&ArticleId=320909 

* * * * *

Want more from the Homa Files?
Click link =>
  The Homa Files Blog

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s