Posted on 10/31/2010 4:51:28 PM PDT by Free ThinkerNY
(Reuters) - Venezuela's President Hugo Chavez ordered the nationalization of local steel company Sidetur on Sunday in the latest of a several recent government takeovers in South America's top oil producer.
Sidetur, a subsidiary of local steel company Sivensa, produces mainly rebar, bar, beam, angle and flat products. According to its website (www.sidetur.com.ve), it has six plants in Venezuela, an annual production capacity of more than 835,000 tonnes and exports products to 25 countries.
"I am going to say the words that (the opposition) like: expropriate it," the socialist former soldier said during his regular Sunday television broadcast.
(Excerpt) Read more at reuters.com ...
Obama would if he could. Do we still have steel companies here?
hunh. that’s like right out of Atlas Shrugged.
The stooges of the past use to be funded by Russia, but I’m wondering how exactly do they continue on today....?
Sooner or later Chavez is going to run out of things to nationalize. Then what?
Do we still have steel companies here?
I think Carter and EPA put most of them out of business.
They sell oil to Americans.
Obama = Chavez = Obama
A government took over a private industry...what could go wrong?
It took the Castro brothers 50 years to figure out “what then.” They are starting to privatize things again. Chavez only has 40 years to go.
Who is John Galt?
Absolutely classic!
WAR! Dictators of communist systems will have to take over another country and loot their prosperity to remain in power.
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