Posted on 04/21/2017 9:52:29 AM PDT by detective
General Motors became the latest corporation to have a factory or other asset seized by the government of Venezuela, and the Detroit automaker faces an uphill battle to recover any damages.
GM said Thursday that its only factory in Venezuela was confiscated a day earlier, as anti-government protesters clashed with authorities in a country that is roiled by economic troubles. GM said assets such as vehicles were taken from the plant, causing the company irreparable damage.
(Excerpt) Read more at abcnews.go.com ...
The people way outnumber the government forces. They will succumb to overwhelming numbers...................
Oops, wrong thread!..................
Did they ever consider that by building a Factory in a Totalitarian Dictatorship Socialist Utopia, that they might just LOSE EVERYTHING??
Is anyone really this Stupid?? I guess so. Hard to believe
If American companies are dumb enough to build and invest in China after the events of Tienanmen Square, I suppose it’s not much of a stretch to see them doing the same in some South American socialist state.
This is one of the few things that really keeps me up at night: the very real possibility that a place where a lot of American companies have built on the cheap and/or ignored environmental/labor laws by bribing the corrupt government suddenly goes hostile and we’re out a huge chunk of our economy.
See Saudi Arabia and the British Oil Fields for a peek in to the Future. Because History always rhymes
Worked out great for Ford when they built a factory that turned out trucks for the Nazis.
Problem is, Citgo isn’t worth much. The commies tried to sell it for $10 billion and couldn’t even get counter offers. They issued about $3 billion in debt to upstream cash to the commies. Liquidation probably probably wouldn’t do much more than cover the bonds. It’s not like there’s a whole lot of goodwill to sell.
Oddly, I figured your comment was as usual.
Wow, I forgot about them, you’re very correct.
That’s what happens when you have multiple threads open at the same time!.......................
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