Skip to comments.
GM halts operations in Venezuela after factory is seized
Associated Press ^
| Apr. 20, 2017 10:16 AM EDT
| Tom Krisher
Posted on 04/20/2017 7:52:36 AM PDT by Olog-hai
General Motors has stopped doing business in Venezuela after authorities took control of its only factory there in what GM called an illegal judicial seizure of its assets.
The plant was confiscated on Wednesday as anti-government protesters clashed with authorities in a country that is roiling in economic troubles such as food shortages and triple-digit inflation.
The Detroit automaker said in a statement Thursday that other assets such as vehicles were taken from the plant, causing irreparable damage to the company.
Its not the first time the Venezuelan government has seized a foreign corporations facilities. In July of last year, the government said it would take a factory belonging to Kimberly-Clark Corp. after the U.S. personal care giant said it was no longer possible to manufacture in the crisis-wracked nation due to a lack of materials.
(Excerpt) Read more at bigstory.ap.org ...
TOPICS: Business/Economy; Local News; Travel
KEYWORDS: generalmotors; gm; maduro; venezuela
Navigation: use the links below to view more comments.
first 1-20, 21-40 next last
1
posted on
04/20/2017 7:52:36 AM PDT
by
Olog-hai
To: Olog-hai
Headline reads like they had a choice to continue
2
posted on
04/20/2017 7:55:29 AM PDT
by
cableguymn
(We need a redneck in the white house....)
To: Olog-hai
Just putting them all on the Maduro diet.
3
posted on
04/20/2017 7:56:11 AM PDT
by
ichabod1
(I call Obama "osama" because he damaged us far more than Osama bin Ladin ever did.)
To: cableguymn
Yeah, that was funny. It’s not their factory...
4
posted on
04/20/2017 7:56:50 AM PDT
by
Mr. Douglas
(Best. Election. EVER!)
To: Olog-hai
Drive out all the producers. That will help the economy for sure.
5
posted on
04/20/2017 8:00:47 AM PDT
by
FatherofFive
(Islam is EVIL and needs to be eradicated)
To: Olog-hai
GM called an illegal judicial seizure of its assets. HA! That's rich coming from a company that seized the stocks owned by its rightful owners and gave it to freedom-hating Unions.
Embrace the suck, GM.
6
posted on
04/20/2017 8:00:50 AM PDT
by
Texas Eagle
(If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
To: Olog-hai
So the dog caught the bumper of the car, now what?
7
posted on
04/20/2017 8:02:04 AM PDT
by
SkyDancer
(The 3 most common expressions in aviation are, 'Why is it doing that?, 'Where are we?' and 'Oh Crap')
To: Olog-hai
Its not the first time the Venezuelan government has seized a foreign corporations facilities.These companies don't care. They can get away from US government regulations and cheap labor. Any losses upon seizure can be passed on to US customers.
8
posted on
04/20/2017 8:03:19 AM PDT
by
bgill
(CDC site, "We don't know how people are infected with Ebola")
To: Olog-hai
If GM had their factory in the US, this wouldn't have happened.
9
posted on
04/20/2017 8:03:22 AM PDT
by
ObozoMustGo2012
("Be quiet... you are #fakenews!")
To: Olog-hai
Will the Bus Driver President build Buses ?
To: Olog-hai
11
posted on
04/20/2017 8:04:08 AM PDT
by
grobdriver
(Where is Wilson Blair when you need him?)
To: Olog-hai
Maduro will be proud to have eliminated all those evil capitalist wages that were being paid Venezuelans.
12
posted on
04/20/2017 8:05:23 AM PDT
by
JimSEA
To: Olog-hai
Fake news - GM is still doing business through its dealers. The only thing shut down, so far, is the manufacturing plant.
" ... In the meantime, GMV, through its dealers, will continue to provide aftermarket service and parts for its customers," GM said in its statement.
13
posted on
04/20/2017 8:08:08 AM PDT
by
Cboldt
To: Olog-hai
GM loves government intervention. What’s the problem?
14
posted on
04/20/2017 8:08:34 AM PDT
by
ArcadeQuarters
("Immigration Reform" is ballot stuffing)
To: FatherofFive
--
Drive out all the producers. That will help the economy for sure. --
GM stock rose on the news.
15
posted on
04/20/2017 8:09:26 AM PDT
by
Cboldt
To: ObozoMustGo2012
Are you sure?
Remember what Obozo did in the “reorganization” of GM? He effectively screwed everyone other than the Unions that were involved in the failure.
16
posted on
04/20/2017 8:10:41 AM PDT
by
Texas Fossil
((Texas is not where you were born, but a Free State of Heart, Mind & Attitude!))
To: JimSEA
We will see if he dares take over Empresas Polar.
17
posted on
04/20/2017 8:12:08 AM PDT
by
Tea Party Terrorist
(Why work for a living when you can vote for a living?)
To: Texas Eagle
Yes! Embrace the suck GM!
18
posted on
04/20/2017 8:13:13 AM PDT
by
ColdOne
((I miss my poochie... Tasha 2000~3/14/11~ Best Election Ever!)
To: Olog-hai
But GM was okay with government control when Obama did it.
19
posted on
04/20/2017 8:13:30 AM PDT
by
Darksheare
(Those who support liberal "Republicans" summarily support every action by same.)
To: Olog-hai
This helps round out their Government Motors experience.
20
posted on
04/20/2017 8:15:06 AM PDT
by
posterchild
(Treade a worme on the tayle, and it must turne agayne.)
Navigation: use the links below to view more comments.
first 1-20, 21-40 next last
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson