Venezuela is in major collapse. The authorities just illegally seized the General Motors plant or the General Motors Venezolana (GMV). Under former President Hugo Chavez, the state took control of not only oil companies, but also businesses such as telecommunications, energy and cement. So much for communism, where’s Sean Penn?
Last May, Bridgestone even sold its business there after six decades of operating in the country. Bridgestone follwed other companies like Halliburton, Ford Motor and Procter & Gamble who have abandoned their investments in Venezuela.
It was not immediately clear why authorities seized the GM plant. But with all the protests due to lack of common resources and supplies like milk and prescription drugs, the country is in an upheavel of protests. What else did you expect after 18 years of communist rule?
H/T Fox News:
Venezuelan authorities seized the General Motors’ plant in the industrial hub of Valencia, amid a deepening economic crisis that has already roiled many U.S. companies.
GM has been the market leader in leftist-led Venezuela for over 35 years.
“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 statement read.
If the government permits it, workers will get separation benefits “arising from the termination of employment relationships due to causes beyond the parties’ control,” the GM statement said.
Dealers will continue to service vehicles and provide parts, the company said.
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.
Venezuela’s Information Ministry did not immediately respond to a request for information.
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.
The country’s economic crisis has hurt many other U.S. companies, including food makers and pharmaceutical firms. Companies have been cutting operations in Venezuela as a result of runaway inflation and strict currency controls.
Automakers in the country have struggled because they’ve been unable to access U.S. dollars to import parts.
But the socialism continues under President Nicolas Maduro as he continues to blame the United States and its companies for Venezuela’s economic and political problems. What insanity!
Venezuela is hurting after 18 years of socialism, but those in command and others like Sean Penn, just don’t get it. Company after company have been pulling their business out of Venezuela – Pepsi, Delta, Bridgestone, Proctor and Gamble and others. As companies leave, so do the good jobs.
Yes, Venezuela is definitely in a MAJOR crisis. It’s economy shrank by 18%. Unemployment is at 25% and rising fast and it has the highest inflation. Add to that the widespread of shortages of simple items such as milk and medicine and you’ve got yourself a nightmare of protests.
It was called the “mother of all marches” which took place in the streets in Venezuela killing at least 3 and injuring dozens. Thousands of protesters took to the streets to protest and demonstrate against the government.
Venezuelans are afraid of the government as Maduro is growing an army of civilian “goon squads” to surmount the protesters. He is supplying guns to sympathetic civil militias. He’s blaming the protesters on the U.S. Even though the citizens that protest, understand the real issues and real problems with the economy and nation as a whole under socialism. It’s called mounting destruction.
Tens of thousands of protesters across Venezuela are expressing their anger and frustration at a socialist government that has led their country into major collapse and one of the deepest ever economic recessions.
The citizens of Venezuela want freedom. They want a return to a strong economy. They want jobs. Sound familiar?
In the past people protested and marched and some even waved the Venezuelan flag, but not anymore. The people are tired. They are weary. They are desperately seeking change. But don’t expect that change to come from the Hollywood likes of Sean Penn or others.
Last year Sean Penn, Jamie Foxx, Danny Glover and others showed up in Caracas to support Chavez. and supported the socialist regime and the leftist thugs. Of course, I highly doubt that these same Hollywood elitists spent any time with the regular folks who are living under very poor conditions and fighting to find milk or medicine.
Some news reports suggested that Foxx was in Caracas as part of fund-raising efforts for a film he wants to direct.
Glover reportedly took $10 million from the Venezuelan government in 2008 to finance a film about a Haitian revolutionary hero. It has yet to be made. Just think how much milk and medicine that would have bought?
And in 2010, Penn reportedly received funds from the Venezuelan government for his charity work in Haiti. Praising Chávez, he declared that journalists should be jailed for daring to call Chávez a dictator. In fact, back then this was what Penn said:
What a moron! I think we can all say, we won’t be spending any funds at any movies by Sean Penn, Danny Glover or Jamie Foxx. Talk about ‘useful idiots’! #SocialismSucks!
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