Venezuela Nationalizes French-Colombian Retailer Exito

The Wall Street Journal ^ | January 17, 2010 | Darcy Crowe

[kempo]

Chavez’s end will come quickly during the night. The country will celebrate. Hollywood will cry.

[CriticalJ]

Exito should have went Francisco d’Anconia a long time ago. Too late now.

[tcrlaf]

“Comerso, a new government-run retail chain which seeks to sell its products at “socialist” prices”

And they’ll become just like the Soviet GUM store, where the prices are so high that only High Party Officials and the Well-connected Rich can afford to shop there.

The Peons will be forced on to the Black market for every day goods.

Welcome to Socialism!

[steveab]

French socialism meet Venezuela socialism.

[expatpat]

Venezuela is a big importer. Either prices go up or the shelves are empty. Which does he prefer?

[expatpat]

He owns the military....

[expatpat]

He owns the military....

[ToTheMax]

DEAD is the preference of freedom-loving Venezuelans and sane Americans.

I’ll even send him some flowers - poison sumac.

[Recon Dad]

When he's gone I can then use one of my favorite quotes,

I didn't attend the funeral, but I sent a nice letter saying I approved of it. — Mark Twain

[NavVet]

Over on DUmmie Underground almost every post on this topic is “Viva Chavez” and “Way to go Hugo” It just boggles the mind how people can go through life so economically illiterate as to actually believe the government can provide something “For Free” and that the only thing standing in the way of an endless supply of free stuff is those evil corporations and their profit motive.

[Cheburashka]

Hmmm Chavez will take the retailers bank accounts, Real Estate Property, fixtures, and stock of goods. But how does Chavez restock the store shelves?

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Nationalize the wholesalers and so on up the supply chain. They can't raise prices either. Yes, at some point you run out of businesses to nationalize, but think of all the private property you've stolen. You may be able to run the nationalized distribution network for a while on all those stolen good.

Eventually of course it falls apart. Then you blame the United States.

[Cheburashka]

Comerso, a new government-run retail chain which seeks to sell its products at "socialist" prices

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The Soviet Union had Gosudarstvennyi Universalnyi Magazin, a/k/a The State Department Store. Government owned and operated stores, which of course started out as stores seized from their evil capitalist owners.

Chavez hasn't come up with anything new.

[MarkAccord]

What Chavez does today, Obama does tomorrow.

[ricks_place]

Nationalize the wholesalers and so on up the supply chain.

Problem for Chavez: the goods are imported!!! lol

[Cheburashka]

Problem for Chavez: the goods are imported!!! lol

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When he reaches the point where no one will export to him then he blames the United States.

[ricks_place]

When he reaches the point where no one will export to him then he blames the United States.

Chavez will blame the US of course. International Businesses will export to Venezuela or Venezuela retailers but will demand cash terms. The retailers will then face the dilemma of selling goods at a loss or face nationalization. The government businesses can sell at a loss as economics is immaterial when the welfare of the people is at stake. Viva la Revolución ! lol

[ProudHonduran]

All the corporations who suffer from nationalization of their investments in Venezuela should come to invest in Honduras. Their investments are safe here.