Clementine
Platinum Member
- Dec 18, 2011
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Well, it's not the first time this leftwing government took over a company and won't be the last. GM was bailed out by billions of American tax dollars so I hope they don't expect sympathy after moving a plant to a socialist hell hole. And this is the kind of government that libs praise.
"General Motors (GM.N) 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."
General Motors says Venezuela illegally seizes auto plant
"General Motors (GM.N) 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."
General Motors says Venezuela illegally seizes auto plant