Brazil not getting any bailout money, according to GM

It had been leaked recently that General Motors was planning on investing 1 billion dollars in a Brazilian operations, and in this "leak" it had also discussed the fact that GM was planning on using money that it would receive from the proposed federal bailout package. However, when GM was questioned about this, it responded with a stark "that's not true".

Not about the proposed operation--that is true, but the fact that the money would be coming from the bailout, as GM has said, is not where the investment would be taken from, and that they have other money earmarked for this burgeoning development (or so they hope). When asked about the global economies and operations abroad, CEO Rick Wagoner clearly stated that GM operations in different regions are each funding projects locally in response to a question about a recent expansion in Russia. I am sure there is more to this, but obviously it would look horrible if GM wasn't for certain to be spending any proposed aid off of American soil.

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Brazil not getting any bailout money, according to GM

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