Barack Obama?
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Posted on 04/20/2017 8:17:35 AM PDT by SeekAndFind
This news broke overnight and it undoubtedly comes as a shock to anyone who hasn’t been paying to socialism in general and the regime of Venezuelan President Nicolas Maduro in particular. The government of Venezuela came in and seized control of the General Motors plant in the city of Valencia, taking over the property, assets and accounts. The automotive giant responded by saying that they were immediately halting operations. (CNN)
General Motors says it will immediately halt operations in Venezuela after its plant in the country was unexpectedly seized by authorities.
GM (GM) described the takeover as an “illegal judicial seizure of its assets.”
The automaker said the seizure showed a “total disregard” of its legal rights. It said that authorities had removed assets including cars from company facilities.
“[GM] strongly rejects the arbitrary measures taken by the authorities and will vigorously take all legal actions, within and outside of Venezuela, to defend its rights,” it said in a statement.
GM’s Venezuelan operation was already pretty much at the point of stagnation. Productivity was approaching zero because their currency had collapsed and they couldn’t order parts to keep the lines running. Also, the domestic market for cars wasn’t exactly booming because their potential customers have money which is basically worthless and they’re mostly too busy looking for scraps of food to worry about a new set of wheels.
If nothing else, this incident will provide an enlightening, educational moment for the rest of the world. It’s a given that this is bad news for General Motors, for the workers there… let’s just say it. This is bad news for everyone except Maduro and his cronies. But it also serves to further pull away the mask, allowing the rest of the world to see what’s actually going on. So gather around, kids, because we’re not only seeing how socialism ends (and it always ends this way) but also how the socialist machinery operates through the various phases of its life cycle.
Originally, the government tolerates the presence of foreign manufacturing entities such as General Motors to fill needs they have which can’t be handled domestically. (GM has been there for roughly seven decades.) It’s not that the Venezuelan people are incapable of innovation or creation… there’s simply no motivation for them to strive for success. Anything they create simply becomes the property of the state anyway, so the hard working, innovative person doesn’t realize much more success than the guy who can barely keep his eyes open to show up for his job sweeping the sidewalk. There’s no point to being particularly innovative.
So companies such as GM are allowed to go to work. But once the system inevitably begins to implode, the tyrant in charge begins looking for new resources to grab. In the name of the socialist concept wherein everything “belongs to the people” he seizes the GM plant. They take the cars which are there to hand out to high ranking party officials and divide up the assets while demanding that the workers get back to producing automobiles. This is, of course, impossible because they don’t have the parts to do it and the people who actually know how to run things are fleeing.
These are the fruits of socialism. It’s a humanitarian disaster to be sure, but it’s also a teachable moment. Watch and learn.
Who the hell do they think they are?
Barack Obama?
Just because Obama seized GM here in the states doesn’t give them license to do the same in Venezuela!!!
Barack Obama?
Imagine that! I’m glad. Why would GM do business in that Socialistic paradise in the first place?
No reason this shouldn't work out just about as well as when Mugabe seized the white owned farms in Zimbabwe and turned them over to blacks.
will we have to bail-out GM again to cover their losses .¿
Thank you for saying what I think. Are they that stupid? Yep. Why would they even think of going there?
They are not Marxists, they are anarchists. They really don’t care about the philosophy side of it that much.
Dear GM,Ford and Chrysler,
Mexico is way overdue for a proletariat “peoples” revolution.
You’ve been warned.
Signed,
Pack sand you Cheap labor whores.
Could not have happened to a better company.
That’s what they’re gonna get when all their military aged males come home and have no jobs.
“Why is any sane multi-national with stockholders continuing operations in this country?”
my guess is that there have been essentially no real operations at the plant for months, maybe years. Probably stripped the plant of whatever they could some time ago. It’s what the oil companies did right before they were all nationalized.
What are they going to do with a building where cars were made from parts that come from other places. Everything is built from other things from other companies and raw materials from other places. Yay, we stole a GM plant. But what possible economic gain can be made from a building where cars used to be made?
I think Mexico has done that over and over...to businesses and people that own houses and land. Change their rules, take everything. I grew up with stories about people losing everything in Mexico, when so many companies moved there the last several years I couldn’t believe they were not concerned history would repeat itself.
I would think GM had an idea this could happen in Venezuela the way things have been going there. I doubt they were surprised.
They should have closed up Shop years ago, slowly paring down Operations so they wouldn’t get too much attention.
They must have missed the writing on the wall.
Sell everything in the building, for whatever it will bring on the world market, in order to hold off collapse for another week.
I don't see how the ultimate implosion can be delayed past end of year.
A ‘garage sale’?........................
Aside from the assets inside, this plant is worthless to Venezuela. It takes a lot of manufacturing plants to make a vehicle. Each plant only adds part of the solution. No plant builds a car from start to finish. I’m not sure what Venezuela hoped to gain by confiscating this tooth in the cog.
But communists generally manage to take charge of such revolutions. And we do not need a communist country on our southern border, wall or no. We've already got a socialist one to the north.
The Venezuelan soldiers will get Chevy pickups while the colonels get Corvettes.
This is why the nation with the world’s largest oil reserve is starving to death. They kicked out all the foreigners working in the oil sector.
In the end they will boil their shoe leather for a last meal.
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