Obama puts his money in Mexico, GM sends $540 million to Calderon for car jobs

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1/20/11, "GM to invest extra $540 million in Mexico to build motors," AFP, Mexico City

"US giant General Motors will invest $540 million to produce two low-emission motors in central Mexico, the company announced here Thursday,

• accompanied by President Felipe Calderon.

The latest project for GM in Mexico would create 500 direct and another 500 indirect jobs in its plant in Toluca, Calderon said.

GM has four plants in Mexico, and has invested some

• $5 billion here since 2006, Calderon said.

GM was left reeling by an industry slump when the global economic crisis hit. It received 49.5 billion dollars from the US Treasury and emerged from a bankruptcy restructuring in 2009.

It successfully returned to public trading last November by raising 23.1 billion dollars in an initial stock offering --

• the largest in history."

via RushLimbaugh.com