Discuss Detroit » Archives - July 2008 » How Arrogant Are They?; GM to funnel bail-out billions to Brazilian ops? « Previous Next »
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Flyingj
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Username: Flyingj

Post Number: 360
Registered: 08-2006
Posted on Sunday, November 23, 2008 - 12:15 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

http://www.laht.com/article.as p?ArticleId=320909&CategoryId= 12396
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Jtf1972
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Username: Jtf1972

Post Number: 81
Registered: 08-2008
Posted on Sunday, November 23, 2008 - 12:43 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

It is like GM is the guy trying to get fired. Maybe Waggoner is secretly working for Honda, trying to destroy the American automobile industry from the inside.
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Scottr
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Username: Scottr

Post Number: 933
Registered: 07-2006
Posted on Sunday, November 23, 2008 - 12:54 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

It's not true...
http://www.autoblog.com/2008/1 1/22/gm-not-sending-any-bailou t-money-to-brazilian-operation /
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Lilpup
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Username: Lilpup

Post Number: 5733
Registered: 06-2004
Posted on Sunday, November 23, 2008 - 1:07 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I found the original article and that is not how it reads to me. There is no mention of the US Federal request that I see. It does say there is currently a $1.5 billion investment in progress and another $1 billion is scheduled to retool for 2012. The article even says GM Brazil has been sending profits to the US division to the degree that their performance and Brazilian law allow.

Granted I was working with an online translator so if anyone here reads Brazilian Portuguese feel free to interpret.

http://indexet.gazetamercantil .com.br/arquivo/2008/11/18/22/ GM-espera-comportamento-das-ve ndas-para-saber-rumo-a-seguir. html
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Lilpup
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Username: Lilpup

Post Number: 5734
Registered: 06-2004
Posted on Sunday, November 23, 2008 - 1:26 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Huh, the paper spreading the rumor is based in Caracas, Venezuela - Chavez up to no good, trying to fuck with the US economy?
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Sstashmoo
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Username: Sstashmoo

Post Number: 2932
Registered: 02-2007
Posted on Sunday, November 23, 2008 - 1:00 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Protectionism now. close the doors. Bush is against it, thats all I need to know.
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Retroit
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Username: Retroit

Post Number: 536
Registered: 04-2008
Posted on Sunday, November 23, 2008 - 1:29 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

"...the injection in Brazil's automobile sector of 8 billion reais ($3.51 billion) recently announced by the federal and state governments of Sao Paulo "has already begun to revive sales," which fell by 12% in October."

I wish our government cared about our auto industry like the Brazilian government cares about theirs.
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Vivadetroit
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Username: Vivadetroit

Post Number: 122
Registered: 04-2008
Posted on Sunday, November 23, 2008 - 9:44 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

ola Lilpup, I speak/read Portuguese & I'll translate the article for you.

And the writer of the Brazilian article is legit, I know him (I used to work for Gazeta Mercantil in Brazil) and he is one of the best auto writers in Brazil.
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Bobl
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Username: Bobl

Post Number: 222
Registered: 07-2008
Posted on Sunday, November 23, 2008 - 10:50 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Back to the arrogance: Even a crack user knows that you don't approach someone with "Hey man, give me some crack money." He would show some false humility. "Excuse me, but could you offer some spare change to a hungry man?"
The Auto CEOs are certainly not less bright than the addict. They have convinced stock holders that corporations that are losing billions should reward those in charge with multi million dollar bonuses, for years! Their success at this feat brought the arrogance.
They should have left their corporate jets and thousand dollar cuff links behind, and brought a plan for recovery, as Chrysler did in the late seventies.

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