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      12-03-2010, 12:14 PM   #1
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BMW borrowed 3.62 Billion from feds.

Here's an article about how BMW borrowed 3.6B from the US Fed.

Just released yesterday, BMW announced that it had “intermittent” use of the Federal Reserve’s Commercial Paper Funding Facility in 2008 and 2009. How much use did they have exactly? 3.62 billion dollars. BMW used the money to invest into its South Carolina assembly plant and to help maintain sales of their new cars. BMW themselves invest 750 million into their plant to help assemble the new X3.

(BMW South Carolina plant)

With the US being BMW’s second biggest market, it is no wonder why they did this. BMW reported its lowest sales year in over a decade last year, with around 270 million in sales, but it had an excess of two billion in cash flow, thanks to the money borrowed from the feds.
for the rest of the article,

interesting how much influence the US fed really has on automakers in the US and abroad.