UPDATE: General Motors To Invest $500M In Mexico Plant

[onpatrol98]

MEXICO CITY (Dow Jones)--U.S. automobile giant General Motors Co. said Tuesday it plans to invest close to $500 million in its Ramos Arizpe plant in northern Mexico to produce a new line of engines as well as a new vehicle.

Of that amount, the company is investing $284 million to manufacture eight-cylinder engines with spark-ignition direct-injection technology, known as SIDI, Grace Lieblein, chief executive of GM de Mexico, said at an event.

"We estimate that these technologies allow for a 9% improvement in fuel efficiency from current engines," Lieblein said, adding that the investment will directly create 390 jobs in Coahuila state, where Ramos Arizpe is located.

http://online.wsj.com/article/NA_WSJ_PUB:BT-CO-20100803-721411.html

[fogonthelake]

1. Geithner did not get a comment to grow US jobs, so GM takes taxpayer

money and goes to Mexico. Sweet!! (NOT)

[Obamanaut]

2. Just so I understand it - GM took the bailout, reversed their bad fortune,

increased their sales, and now gonna spend a buttload of that increase elsewhere.

So much for gratitude for buying American.

[xchrom]

3. recommend

[Lance_Boyle]

4. Woohoo! YAY GM bailout! YEAH!

Maybe they'll bus some Americans down there to work for 8 pesos a day. Hell that probably buys a decent house in Detroit these days.

[Ruby the Liberal]

5. Henry Ford once remarked that he paid his people what he did so that they could afford his products.

That was a lifetime ago.

[w8liftinglady]

16. there is a Ford plant here-one of the FEW union workplaces in Texas.

[amborin]

6. and, GM opens NON-Union plant in Michigan and demands 50% pay cut from US UAW auto workers

[SoCalDem]

7. Want to make yourself ill? Google GM India or GM Brazil

Funny how these nearly bankrupt companies have extra money laying around to "invest" in lower-paid markets, isn't it?

[rhett o rick]

17. The GM bailout was a huge ripoff of American taxpayers. Buy Ford. nm

[GSLevel9]

8. niiiiiceee.... nt

so invest in an infrastructure that's NOT in the US... but mfg. cars there to be purchased by US citizens with their incomes coming from... where?

There's an addiction to low priced consumer goods and an addiction to corporate profit... bottom line, we need corporate money being spent HERE. THAT is economic stimulus.

What good is it to the US workforce if GM can produce a car in Mexico for 17% less than a similar model here but there's no one here to buy them?

[LWolf]

9. DUers celebrate GM's bailout as an Obama success.

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=433&topic_id=408086

It's good to know that we bailed them out so they could provide jobs in Mexico.

[MadHound]

10. Wonderful investment of our tax money.

I just feeeel the love flowing from GM, covering the people of this country with love and jobs.

Oh, wait, I woke up, never mind.

[Bluebear]

11. Thank God It Passed!!1

[notesdev]

12. They got some gall even considering this

given that they only exist today, rather than being liquidated in bankruptcy as they should have been, due to a massive infusion of US taxpayer dollars.

In return we get a half billion sent offshore to fund competitors and further erode one of the few manufacturing advantages we have left? On top of how much already gone in other projects?

This is why it is foolish and unjust commit public money to rescue private companies, which pursue private interest and not the public interest.

[Vinca]

13. If they come begging again, send them south of the border for pesos.

:mad:

[w8liftinglady]

14. welcome to the third world,folks ...

[KamaAina]

15. Well, of course, That's because the Mexican government bailed them out.

Oh, wait a minute... :wtf:

[Lance_Boyle]

19. kicking

because none of DU's GM fanboys wanted to chime in on this yesterday.

Can we get some genuine enthusiasm for the GM bailout represented here? I'm not going to name names, but I'm wondering why the usual suspects are so quiet on this particular thread...

[undeterred]

18. Just keep the plant in Janesville Wisconsin closed

because labor is cheaper in Mexico. Its the American Way.

[Bluebear]

20. you said it

[hankthecrank]

21. k to late to recommend