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From the Dept. of You Gotta Be Kidding: GM to Spend $1 billion bailout $$ in Brazil

Sarah's picture
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claiming it's a better investment for the money than using it in US operations. So, how do we get these managers and financiers straightened out? This ain't a UNION problem -- this is a CORPORATE MANAGEMENT problem, and if we don't put a spike in this wheel, it'll be an AMERICAN BANKRUPTCY problem!!
(NB: Fixed hed, hat tip to multiple alert readers. Kthxbai.)

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connecticut man1's picture
Submitted by connecticut man1 on

How the heck can we fight for a better America in this class war when the evil criminal CEO masterminds of America's failure turn tail and run like the conservative chickens that they are?

Submitted by jawbone on

I read this, got really angry, read the article, got more angry. Remembered something I heard or read on the web from a former autoworker who said GM has its American business separated from its overseas branches and structured so that if the US portiond does go banrupt, they will simply manufacture the autos they want to sell in the US in their foreign factories. Maybe this new one in Brazil....

Wow.

carissa's picture
Submitted by carissa on

While I don't approve of what they are doing, where do you read that they are spending 18 billion in Brazil? The article you link to says $1 billion, not 18.

Submitted by lambert on

Lots of interesting things going on in Latin America, and we don't cover them enough. There's a lot of great stuff about Latin American in Shock Doctrine and we can learn from them.

Nervine5's picture
Submitted by Nervine5 on

amusing that billions in corporate or government spending seems like 'chump' change to us now? One billion or 18 billion , to us it several lifetimes of income. It is like Lincoln said (paraphrasing) if it's bad for labor in this country (the 'True' capital of this country) it's treason.

Damon's picture
Submitted by Damon on

Unless I missed something.

Either way, this is just crazy. Well, not crazy for their bottom line, but crazy for PR-wise. And, this, just after they announced a week or so ago that they were cutting 2,000 jobs here in Michigan and Ohio. It's really kind of surprising, because I always hear about how its so crazily expensive to do business in Brazil. I wonder exactly where they think they are saving with this outsourcing? I can't imagine their marketshare growth in Brazil would be enough to offset the taxes, but it must be.

Damon's picture
Submitted by Damon on

Thanks for changing it. I bet the $18 billion that came up must be for the $18 billion paid out in bonuses last year on Wall Street and it got mixed up with all of the other egregious news coming from Corporatedom.