This is how you stimulate the economy...invest billions of tax payer bail out money unconstitutionally obtained in Brazil. General Motors to Invest $1 Billion in Brazil Operations -- Money to Come from U.S. Rescue Program
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."
"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.
Meanwhile, he cut the company's revenue forecast for this year by 14% to $9.5 billion from $11 billion, as the economic crisis began to cause rapid slowdowns in sales.
GM already announced three programs of paid leave, and Ardila added that GM Brazil "is going to wait and see how the market behaves in order to know what decision to take" with regard to possible layoffs.
For Ardila, 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.
The executive said that the company will operate a "conservative" scenario in 2009 with an estimated production of 2.6 million units, and another more "optimistic" that contemplates sales of 2.9 million.
This year sales will reach 2.85 million vehicles, which represents a growth of 15% over last year.
Or, you can invest with Dassault in France: JUST PLANE DESPICABLE - 'RESCUED' CITI BUYING $50M JET
Beleaguered Citigroup is upgrading its mile-high club with a brand-new $50 million corporate jet - only this time, it's the taxpayers who are getting screwed.
Even though the bank's stock is as cheap as a gallon of gas and it's burning through a $45 billion taxpayer-funded rescue, the airhead execs pushed through the purchase of a new Dassault Falcon 7X, according to a source familiar with the deal.
The French-made luxury jet seats up to 12 in a plush interior with leather seats, sofas and a customizable entertainment center, according to Dassault's sales literature. It can cruise 5,950 miles before refueling and has a top speed of 559 mph. [...]
You're kidding me right? It makes it hard to side with the private sector over godless politicians when failed executives are making decisions like this. [...] [...] The drunken sailor syndrome continues...Rescued Citigroup is buying a brand spanking new $50 million jet for its executives. The New York Post reported, via Free Republic: [...]
Again, simply amazing. I was watching the Faux News today and there was a hammer head on there that was saying that are going to start making some rules about where the bail out money can be spent and sent. They are JUST NOW getting around to making the rules? Just now? Idiots.
Just once. Just once in my lifetime, I would like to witness CONgress actually getting things together BEFORE they implement a program or policy instead of rushing and ramming something through just to say that they got something done. They rush stuff through only to "discover" that not only is it not going to work but that their stupid plan didn't have any rules and it was doomed to fail from the start. Idiots.
They should pay for their errors by garnishing their pay. Perhaps that would give them an incentive to get it right to begin with. On that note, EVERYTHING CONgress does should pass the Constitutional Smell Test before the whatever it is gets discussed. Idiots.