Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

General Motors auto plant in Venezuela seized by government, GM decries illegality
Daily Sabah ^ | April 19, 2017

Posted on 04/20/2017 4:47:53 AM PDT by Ciaphas Cain

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.

(Excerpt) Read more at dailysabah.com ...


TOPICS: Business/Economy; Foreign Affairs; Miscellaneous; News/Current Events
KEYWORDS: automotive; generalmotors; socialism; venezuela
Navigation: use the links below to view more comments.
first previous 1-20 ... 41-6061-8081-100101-106 next last
To: ealgeone
Maxine Waters approves of this move by Venezuela.

Yes, according to her, all the Venezuelan government did was "socialize" the GM factories.

81 posted on 04/20/2017 6:32:01 AM PDT by Lou L (Health "insurance" is NOT the same as health "care")
[ Post Reply | Private Reply | To 71 | View Replies]

To: Mr. Douglas; miss marmelstein
I don’t agree with either of those statements.

I run the Nut-Job Conspiracy Theory ping list.

Trust me, Everything is a plot and a conspiracy theory. The only thing that keeps us safe is they are all at cross purposes and null each other out!

82 posted on 04/20/2017 6:37:10 AM PDT by null and void (Drain the swamp! Get rid of the mosque-itoes!)
[ Post Reply | Private Reply | To 65 | View Replies]

To: jiggyboy

That!


83 posted on 04/20/2017 6:40:20 AM PDT by null and void (Drain the swamp! Get rid of the mosque-itoes!)
[ Post Reply | Private Reply | To 74 | View Replies]

To: Pollster1

Live by the Socalist Sword, Die by the Socalist Sword.


84 posted on 04/20/2017 6:40:24 AM PDT by ImJustAnotherOkie
[ Post Reply | Private Reply | To 3 | View Replies]

To: PAR35
Yes, the guys who approved the plant right after World War II were a bunch of idiots for not seeing more than 70 years in the future.

Well, after the ascension of the Communists they have had enough years to employ Dagny Taggart's "San Sebastian Line" tactic of hollowing out the plant and leaving it appearing to be functional but with nothing of value inside left to be looted.

That they didn't indicates that they were receiving assurances from the Obama Administration that such a seizure would never happen.

85 posted on 04/20/2017 6:46:34 AM PDT by Mr. Jeeves ([CTRL]-[GALT]-[DELETE])
[ Post Reply | Private Reply | To 18 | View Replies]

To: Red Badger

86 posted on 04/20/2017 6:48:25 AM PDT by Ciaphas Cain (The choice to be stupid is not a conviction I am obligated to respect.)
[ Post Reply | Private Reply | To 80 | View Replies]

To: Ciaphas Cain

Well, that’s a few hundred more jobs moving back to the US. Hate to blame the victim, but I can’t really muster too much sympathy for GM.


87 posted on 04/20/2017 6:54:36 AM PDT by dangus
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ciaphas Cain

‘El Universal reported the seizure is likely related to a lawsuit against the company filed by a former landowner in Maracaibo.’ (from Breitbart article)

Well it’s either socialism or feudalism or maybe both!


88 posted on 04/20/2017 6:54:40 AM PDT by Lent
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ciaphas Cain

WAIT! WAIT! WAIT! WAIT!

Here’s the punchline, appropriately, the last sentence of the article:
“Shares of General Motors Co. rose slightly in premarket trading.”


89 posted on 04/20/2017 6:56:47 AM PDT by dangus
[ Post Reply | Private Reply | To 1 | View Replies]

To: null and void

Ok, that was funny. Thanks!

:-D


90 posted on 04/20/2017 6:58:27 AM PDT by Mr. Douglas (Best. Election. EVER!)
[ Post Reply | Private Reply | To 82 | View Replies]

To: Ciaphas Cain

So the Chavistas think they know how to build cars?


91 posted on 04/20/2017 6:59:38 AM PDT by E. Pluribus Unum (Some people consider government to be a necessary evil, others their personal Ponzi scheme.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mr. Douglas
Funny, true, but I'm pretty sure it's accurate!
92 posted on 04/20/2017 6:59:57 AM PDT by null and void (Drain the swamp! Get rid of the mosque-itoes!)
[ Post Reply | Private Reply | To 90 | View Replies]

To: E. Pluribus Unum
So the Chavistas think they know how to build cars?

They, like their American professorial counterparts, think they know everything!

93 posted on 04/20/2017 7:02:46 AM PDT by null and void (Drain the swamp! Get rid of the mosque-itoes!)
[ Post Reply | Private Reply | To 91 | View Replies]

To: Ciaphas Cain

Citgo here should be awarded to GM.


94 posted on 04/20/2017 7:07:12 AM PDT by Joe Bfstplk (A Irredeemable Deplorable Texan)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ciaphas Cain

Too bad GM never heard of Cuba and history. Socialist states seize private property.


95 posted on 04/20/2017 7:10:27 AM PDT by 1Old Pro
[ Post Reply | Private Reply | To 1 | View Replies]

To: CincyRichieRich

I troll at the DUmp occasionally. Whenever something absurd is happening in Venezuela, they manage to do enough mental gymnastics to blame it on something other than the obvious.


96 posted on 04/20/2017 7:16:41 AM PDT by lacrew
[ Post Reply | Private Reply | To 20 | View Replies]

To: Mr. Douglas

I hope not. I don’t mind sending in arms and motivated and trained Venezuelans, but until their people finally have enough with socialism/communist dictatorships, we need to not have any direct dealings.


97 posted on 04/20/2017 7:17:24 AM PDT by FreeAtlanta (what a mess we got ourselves into)
[ Post Reply | Private Reply | To 11 | View Replies]

To: Ciaphas Cain

I have dumb questions:

Will parts suppliers (some of them likely GM affiliated) keep supplying this plant?

When the models change next year, will GM provide the intellectual property to change this plant.

IOW, this isn’t like seizing a mine or something like that...car production is pretty complicated. How could the Venezuelan government keep it running, unless GM goes along with it?

Final question - will the cars from this plant be sold on the car lot as a GM brand?


98 posted on 04/20/2017 7:25:08 AM PDT by lacrew
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mr. Douglas

“This is the risk they take when they do business in “questionable” countries.”

For bondholders, the US is a questionable country.


99 posted on 04/20/2017 7:33:39 AM PDT by alternatives? (Why have an army if there are no borders?)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Ciaphas Cain

Reminds me of when CASTRO seized American assets, refineries and such, in Cuba, back in the early 1960s.
He had before gone on the ED SULLIVAN SHOW to claim he was NOT a Communist.
Surprise, surprise! He WAS a commie.


100 posted on 04/20/2017 7:54:19 AM PDT by Ruy Dias de Bivar ("You know Caligula?" --- "Worse! Caligula knows me!")
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-20 ... 41-6061-8081-100101-106 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.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson