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Started By
Message
GM says Venezuela has seized its car plant
Posted on 4/20/17 at 9:23 am
Posted on 4/20/17 at 9:23 am
LINK
quote:
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.
20
Posted on 4/20/17 at 9:23 am to StormyMcMan
Wouldn't have happened in America.
Posted on 4/20/17 at 9:24 am to StormyMcMan
Progressive paradise right there.
Posted on 4/20/17 at 9:24 am to tigersownall
Posted on 4/20/17 at 9:24 am to StormyMcMan
Good for them for having a plant in that shite hole
Posted on 4/20/17 at 9:25 am to StormyMcMan
Posted on 4/20/17 at 9:25 am to StormyMcMan
GM should have kept their asses on their home turf.
Posted on 4/20/17 at 9:28 am to StormyMcMan
Their country; their rules.
Posted on 4/20/17 at 9:28 am to StormyMcMan
Bernie would be proud!
Posted on 4/20/17 at 9:49 am to StormyMcMan
Didn't Maxine Waters once mention FedGov seizure and nationalization of all Big Oil assets? Yep. She sure did.
Keep voting Democrat, USA !
We'll be like Venezuela in one generation!
Keep voting Democrat, USA !
We'll be like Venezuela in one generation!
Posted on 4/20/17 at 9:50 am to StormyMcMan
GM should have known better than to have a plant in a socialist country.
This post was edited on 4/20/17 at 10:00 am
Posted on 4/20/17 at 9:52 am to StormyMcMan
General Motors needs to check it's corporate privilege
the People's Plant that GM was using got reassigned
the People's Plant that GM was using got reassigned
Posted on 4/20/17 at 9:52 am to StormyMcMan
Venezuela is a progressive paradise. Sort of like North Korea.
Posted on 4/20/17 at 9:56 am to StormyMcMan
Expropriation is one of the risks you run when you run to the third world for cheap labor. Sucks for them.
Posted on 4/20/17 at 10:03 am to StormyMcMan
For some history, they have had issues before.
quote:
GM halted operations at the plant in June, saying the company had accumulated some $1.15 billion in debts to foreign providers. Znidarsis told The Associated Press the company is still struggling with what he called "significant" debts, but he said GM received assurance from the government that it would receive enough hard currency in coming months to reduce them.
"We are working with the government for a plan to continue reducing what's left," he said.
Posted on 4/20/17 at 10:04 am to cokebottleag
quote:
GM halted operations at the plant in June, saying the company had accumulated some $1.15 billion in debts to foreign providers. Znidarsis told The Associated Press the company is still struggling with what he called "significant" debts, but he said GM received assurance from the government that it would receive enough hard currency in coming months to reduce them.
"We are working with the government for a plan to continue reducing what's left," he said.
Sounds like they pulled everything out of their supply chain that was worth something in Venezuela ahead of the inevitable seizure.
Posted on 4/20/17 at 10:06 am to roadGator
From Bernie's lips to God's ear:
LINK
quote:
These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina, where incomes are actually more equal today than they are in the land of Horatio Alger. Who's the banana republic now?
LINK
Posted on 4/20/17 at 10:08 am to tigersownall
quote:
Wouldn't have happened in America.
Exactly.
Posted on 4/20/17 at 10:09 am to Damone
quote:
These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina, where incomes are actually more equal today than they are in the land of Horatio Alger. Who's the banana republic now?
Wow.
Posted on 4/20/17 at 10:21 am to StormyMcMan
natural consequence of doing business in a shat country
all those surprised please show by a raise of hands
all those surprised please show by a raise of hands
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