Skip to comments.Venezuela Seizes GM, Warning Sign to U.S. Companies
Posted on 04/21/2017 9:42:03 AM PDT by detective
U.S. multinationals with plants in Venezuela are likely on edge Thursday, after American automaker General Motors (NYSE:GM) pulled the plug on its operations in the poverty-stricken country, following a government takeover of its plant amid large-scale violent protests. All foreign companies, and especially U.S. firms, should be concerned with the increasingly extreme and aggressive behavior of the Venezuelan regime, Ian Vasquez, director of the Cato Institute's Center for Global Liberty and Prosperity, told FOX Business.
American beverage company Coca-Cola (NYSE:KO), however, indicated to FOX Business Thursday it didnt have any plans to pull its operations from the distressed South American country.
There is no indication that any of our facilities in Venezuela are currently at risk of being altered and were working closely with Venezuelan authorities to assure a continuous operation in the country, the company said.
(Excerpt) Read more at finance.yahoo.com ...
US companies still operating in VZ have the same caveat that women have in Cairo’s Tahrir Square. If you get assaulted, it’s your fault.
It’s really going to suck when Brazil, Argentina, and Mexico follow suit.
You mean there are still US companies there? HAHAHAHA!
If I had a company there, I’d try to, as much as on the down low as possible, piece it out so that there is nothing left but a shell. It might even be good, if I owned the property, to sell it with a lease back option.
If only they had used Bernie style socialism instead of every other form of socialism ever tried, there would be a non stop cumbaya-athon right now
Paging Thomas Friedman, Thomas Friedman, Thomas Friedman please pick up the white courtesy phone please, your thesis is completely unraveling in Venezuela...Your thesis is completely unraveling in Venezuela.
Sssooooo Tom, who are going to blame this on...tapping fingers.
What currency would you accept as payment?
Dollars are off the table!
They didn’t get the hint when VZ Chavez took over the oil Co.’s ?
I was surprised at that too...I was getting my work visa in order to head there on a big gold mine development project when the idiot Chavez came to power. The mine, Las Brisas, and the adjacent Crystallis projects together comprise one of the largest undeveloped gold mines in the world. They both sit idle; unrealized millions in taxes and wages. Morons
I wonder if they Venezuelans will seize the Kalashnikov factory.
So why in the hell was GM having a plant in that communists empire of an insane ruler. What is wrong here, GM should have that facility in America. Venezuela currently is a real dump and will sell out to places like Russia.
What is it they think they can do with it? Cant sell the big stuff its too specialized, can’t run it because no supplier is going to sell them anything. I suppose they can and will loot it. Sell the equipment for scrap. Try to collect the AR and ignore the AP. Imprison the management as scapegoats.
But this is the logical outcome. Maddie’s problem is he just wasn’t as smart as O and the unions. They looted not only GM, but its suppliers, its customers, and the US taxpayer.
The difference between the US and Venezuela was in degree not kind.
In Russia, car factory quits YOU!
Translation: "We're paying our bribes and hoping for the best."
Ah, yes. "Democratic Socialism," if I recall correctly.
Socialism under any other name, nationalizes just as well.
Why are so many companies so suicidal to continue operations in countries like this?
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