More on GM

Seven percent doesn't seem like a big purchase, but added to GM's $415 million for a transmission plan in Brazil and:

General Motors to Invest $1 Billion in Brazil Operations


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 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.

http://www.laht.com/article.asp?Cate...ticleId=320909

(It's always good to know where too big to fail is spending money it didn't have three years ago.)