The Democrat Socialist thieves are hard at work in Venezuela. The poor people of that country are now paying the price for electing these criminals. The people voted them out of power in 2015 but they won't leave.

This is more proof that there is little to no difference between Democrat Socialist and Communist.


General Motors says Venezuela illegally seizes auto plant


CARACAS, April 19 (Reuters) - General Motors said on Wednesday that Venezuelan authorities had illegally seized its plant in the industrial hub of Valencia and vowed to "take all legal actions" to defend its rights.

The seizure comes amid a deepening economic crisis in leftist-led Venezuela that has already roiled many U.S. companies.

"Yesterday, GMV's (General Motors Venezolana) plant was unexpectedly taken by the public authorities, preventing normal operations. In addition, other assets of the company, such as vehicles, have been illegally taken from its facilities," the company said in a statement.


It said the seizure would cause irreparable damage to the company, its 2,678 workers, its 79 dealers and to its suppliers.

Venezuela's Information Ministry did not immediately respond to a request for information.


Venezuela's car industry has been in freefall, hit by a lack of raw materials stemming from complex currency controls and stagnant local production, and many plants are barely producing at all.

In early 2015, Ford Motor Co wrote off its investment in Venezuela when it took an $800 million pre-tax writedown.

The country's economic crisis has hurt many other U.S. companies, including food makers and pharmaceutical firms. A growing number are taking their Venezuelan operations out off their consolidated accounts.

Venezuela's government has taken over factories in the past. In 2014 the government announced the "temporary" takeover of two plants belonging to U.S. cleaning products maker Clorox Co which had left the country.

Venezuela faces around 20 arbitration cases over nationalizations under late leader Hugo Chavez.

(Reporting by Joe White and Alexandra Ulmer; Writing by Alexandra Ulmer; Editing by Edwina Gibbs)

 

Didn't Venezuela contribute a shit load of money for der Trumpenfuhrer's inauguration?

https://www.theguardian.com/world/2017/apr/19/venezuela-donation-donald-trump-inauguration

 

That is just the chance you take when you build a plant in a country like that.
This isn't the first time a country has taken property of foreigners and it will not be the last.
If you plan on owning a business or property in another country you should not fall behind on the bribes.
You can see the results.

 

shit happens when you do business in a country like that

 

Well said. I had oil interests (a stake in an oil company) there years ago and was lucky to make it out of there with my head still screwed on. All of the equipment didn't fare as well. It was the last time I ever contemplated getting involved in a banana republic ...

Btw CS, I can give you some pointers on shock value threads LMAO.

 

I knew a man who had a mine in Mexico. Their government decided to take it away from him and he expected people he knew to help him take it back.
Last time I saw him he had a day job.

 

Collectivism at work.

Lenin called it appropriation.

Why anyone would do business with a communist country-- or worse, would want his/her country to become one-- is beyond me. But there is no accounting for taste.


EDIT - I know Mexico is supposedly a "socialist" country. Same thing. Both are collectivist. Their economic systems differ only by degrees of severity.

 

Just watching a news report of the anti government uprising and open protests that just got really ugly. The people are fed up and the government has full magazines in their rifles to counter that. This will not end well.

 

People choose collectivism.

And ultimately, because they are short-sighted and don't understand that collectivism is incompatible with human nature, they choose having the guns turned on them.

I know that's heartless.

But how many more tens of millions have to die, before it sinks in that humans do not thrive as parasites?

 

The problem with socialism is, eventually you run out of other nations' corporations' vehicles (and eventually, other nations' corporations.)

 

When I was working with some Mifia type's did you every come to my casino there?

 

I doubt it unless you ever kicked anyone out of it for counting cards lol.

Fuck me that sounds like a dangerous thing to step into a casino there, it is a gamble just setting foot in the country ... are there really casino's there ???

 

It was on an island off the coast and I sold out early and helped start one in Dominican Republic...

I got offered an oil deal in Columbia on the border with Venezuela but was not that crazy.....

I was doing wild stuff back then from owning Race Horses to pioneering the small luxury
mini suite hotels before
the major chains got into it......Build 12 of them and sold out to Econo Lodges....

This was the first one....Looks like it has been renamed....

 

You're a very angry person.

 

I haven't seen any anger displayed in this thread. Perhaps you would like to elaborate?

 

Maybe all the time you spend ripping on millennials and liberals?

 

If I was GM I'd eat the loss and bring the factory back to the USA.

On the flip side GM owns a auto company in socialist Australia called Holden(basically Pontiac) and it's done well since 1941.

 

Maybe that's why Trump isn't squawking about a foreign country taking over a plant belonging to an Amercan company...well, that and Venezuela donated half a million to his inauguration.

 

And it what way does this affect the GM take over?

 

Does it? Or was it just one of them coincidences?