One topic no one mentions in the Detroit Bailout controversy is all the offshoring that has been, and still continues, in the auto industry. GM just announced new plants in Brazil, Russia and India, coinciding with plant closings in America.
Guess where the bailout money will go?
General Motors to invest $1 bn in Brazil plant
Wed, Nov 19 11:49 AM
Sao Paulo, Nov 19 (IANS) US automobile giant General Motors (GM) plans to invest $1 billion in Brazil to avoid in their Latin American unit the kind of problems it is facing at home, EFE reported Wednesday.
According to Jaime Ardila, chief of GM Brazil-Mercosur, the funding will come from the bailout package from the US government and will be used to 'complete the renovation of the line of products up to 2012'.
GM Opens $300 Million Russian Plant to Boost Sales
Nov. 7, 2008 (Bloomberg) -- General Motors Corp., the world's biggest carmaker, opened a $300 million factory in Russia as it looks to compensate for slumping sales in western Europe and North America.
GM opens second India plant
The Associated Press
Published: September 2, 2008
GM's investment in India, which now tops US$1 billion, pales in comparison with that in China, where the company produces more than 1 million vehicles a year. GM has poured US$5 billion into its China operations and plans to invest US$1 billion a year going forward, company officials said.
About 30 percent of the 9.5 million vehicles GM manufactures each year are made in Asia, a ratio Reilly said would likely jump to nearly 40 percent in the next five years.
GM's $3B Investment Will Muscle Up Chinese Manufacturing
Week of June 21, 2004
No surprise, then, that GM, Ford Motor Co., Volkswagen and Toyota Motor Corp. in the past eight months alone have disclosed plans to invest some $10 billion in bulking up Chinese sales.
Chinese Earnings Equal 54 Percent of GM's North American Profits
GM plant's closing like death knell in Dayton
GM assembly plant closes for good two days before Christmas
Moraine, Ohio, plant's closing ripples through its supply chain
Many workers worry plant's closure will mean end of town
Worker: 'The American dream has backfired on everybody'
Jobs lost in Dayton
A look at how GM's woes have cost jobs in the Dayton, Ohio, area:
• GM Moraine Assembly: 5,000 jobs lost
• Supplier Jamestown Moraine: 200 jobs lost
• Supplier Moraine L.O.C., 170 jobs lost
• Supplier Delphi, 3,000 jobs lost
• Supplier CEVA, 170 jobs lost
-- Source: IUE Local 755
Thank you, Congress. Another American city devastated.