Home » Blogs » Sarah's blog

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

Sarah's picture
Fri, 01/30/2009 - 9:57pm — Sarah

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.)

Bookmark/Search this post with:
  • Buzz Up!
  • del.icio.us
  • Digg
  • Facebook
  • Forward
  • Google
  • Newsvine
  • Reddit
  • SlashDot
  • StumbleUpon
  • Yahoo
»

Comments

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
connecticut man1's picture

Just shoot me now...

By connecticut man1 on Fri, 01/30/2009 - 11:04pm

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?

»

There were no conditions or restrictions on the GM money?? WTF?!

By jawbone on Fri, 01/30/2009 - 11:27pm

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

Did I miss something?

By carissa on Fri, 01/30/2009 - 11:27pm

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.

Blue Lyon

»

Good catch--seems the headline made me see $18 when I skimmed

By jawbone on Sat, 01/31/2009 - 12:17am

the article. Still....

»
lambert's picture

I'm glad you found that source, though

By lambert on Sat, 01/31/2009 - 12:34am

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.

First they ignore you, then they ridicule you, then they fight you, then you win. -- Mahatma Gandhi

»
Nervine5's picture

Is it not

By Nervine5 on Fri, 01/30/2009 - 11:49pm

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

Yes, $1 billion not $18 billion

By Damon on Sat, 01/31/2009 - 12:47am

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.

But, we've always been at war with Eastasia...

»
Sarah's picture

source referring me gave me the hed, sorry n/t

By Sarah on Sat, 01/31/2009 - 1:25am

required filler


We can admit that we’re killers … but we’re not going to kill today. That’s all it takes! ~ Captain James T. Kirk, Stardate 3193.0

1 John 4:18

»
Damon's picture

No problem, Sarah

By Damon on Sat, 01/31/2009 - 3:42am

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.

But, we've always been at war with Eastasia...

»

Help the hamsters with their winter heating bill ...

… as they power the wheels that turn the servers at The Mighty Corrente Building. Please, won’t you help them keep their cages shiny?

No PayPal Account required! Give the hamsters immediate relief!

Or Subscribe to make a monthly payment!

Corrente is completely supported by contributions from readers. Thank you!

Download Citibank Plutonomy files

Part 1 [PDF]

Part 2 [PDF]

Good reading! Favorite quote: What could go wrong?
Beyond war, inflation, the end of the technology/productivity wave, and financial collapse, we think the most potent and short-term threat would be societies demanding a more ‘equitable’ share of wealth.

The 12 Word Platform

1. Medicare for All

2. End the Wars

3. Tax the Rich

4. A Jobs Guarantee

Senior fellows of The Mighty Corrente Building

Leah (CA), Lambert (PA/ME), RDF (??), BDBlue (DC), Hipparchia (FL), MsExPat (NY), letsgetitdone (DC), twig (LA), Tony Wikrent, (NC), jawbone (PA).

Corresponding fellows

danps.

Western Coordinator

coyotecreek

Correspondents

Health care reform: DCBlogger.

Fellows emeritus

mjs, Riggsveda, Tresy, Tom, hekebolos, chicagodyke, shystee, and Xenophon, Vastleft (MA), Sarah (TX).

Random term

Gaslight

A form of psychological abuse characterized by persistent denials of fact which, over time, have the effect of causing the victim to become anxious, confused and progressively less able to trust his or her memory and perception. From the 1944 movie gaslight with Charles Boyer and Ingrid Bergman.

I support Americans United for Separation of Church and State.

Americans United is dedicated to preserving the constitutional principle of church-state separation as the only way to ensure religious freedom for all Americans.