Maybe the Venezuelan government did this in anticipation of a visit from Mikey.
Posted on 05/16/2018 5:49:34 AM PDT by Oldeconomybuyer
Authorities in Venezuela have seized a plant owned by the American cereal manufacturer Kellogg.
It comes after the firm announced it was pulling out of the country because of the worsening economic situation.
President Nicolas Maduro, who has previously accused the US of waging economic war against his government, called the closure "absolutely unconstitutional and illegal".
He said the factory had been handed to workers and would continue production.
Earlier, workers had said they had been prevented from entering the plant in the central city of Maracay on Tuesday.
The announcement comes ahead of Sunday's presidential elections.
"We've begun judicial proceedings against the business leaders of Kellogg's because their exit is unconstitutional," Mr Maduro told cheering supporters in the central state of Carabobo.
(Excerpt) Read more at bbc.com ...
Corn flaky socialism.
HAHAHAHAHAHA!!!
Because the Government demands they produce!
Do they have any of the recipes?
Must be a nightmare of every global conglomerate, a subsidiary making product without control or oversight from the head office.
Think of Bhopal, India and Dow Chemical...
LOL
He said the factory had been handed to workers and would continue production.
Earlier, workers had said they had been prevented from entering the plant in the central city of Maracay on Tuesday.
does Venezuela’s Constitution have ‘guaranteed jobs’?
Coming soon via Bernie and Liz Warren.....
Kellogs may have lost the plant but the workers are cheaper there.
Just a guess, but I suspect the factory hasn’t operated in a long time anyway. Kelloggs probably just announcing it so they can officially wind up the business and stop filing and paying local taxes
Venezuela: the live action version of Atlas Shrugged. ¿Quien es Juan Galt?
It’s illegal and unconstitutional for a business to close their doors....?
Maybe Kelloggs should habe pulled all theor capital assets out first.
.
Well played sir!
I suspect Kellog (or whoever owns them now I think General Mills) has written that entire operation off as a loss, and will probably deduct it on their taxes next year.
And as far as worrying about producing product under the Kellog brand, they may be able to get away with that within the borders of Venezuela, but they won’t be able to ship any product overseas for sale in other countries. Not if they try to brand the product “Kellog”. They may be able to if they sell it under another brand which I would suspect would be the “strategy” at this point.
Really though, they are (or should be) probably planning to just produce for domestic consumption. They have enough problems now feeding their own people there’s no rationale that makes sense to shipping and selling Venezuelan cereal product internationally. Not unless they want a riot on their hands in short order that would make all the riots up to this point look like a fiesta.
It’s a real shame what’s happened to that country. So much oil wealth totally squandered on a socialist fantasy. The good news, if there is any, is that since they still have a lot of oil they can still recover. But that’s only if the population wakes up from the current nightmare. I kind of suspect any future oil profits will go to keeping up appearances of a functioning government, and for oppressing the masses (excuse me, I mean “serving the people”).
Maybe the Venezuelan government did this in anticipation of a visit from Mikey.
Think of Bhopal, India and Dow Chemical...
Dow bought Union Carbide, the company responsible for that disaster long after the event.
“He said the factory had been handed to workers and would continue production.“
“You’ll work harder with a gun in your back for a bowl of rice a day.”
Jello Biafra
L
+1
5.56mm
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