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Venezuela seizes Kellogg cereal factory after closure

By MisterLefty following x   2018 May 17, 3:31pm 363 views   3 comments   watch   sfw   quote     share    


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.

"I've taken the decision to deliver the company to the workers in order that they can continue producing for the people."
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Venezuela's battered economy has been hit by falling oil revenue and the plummeting value of its currency, the bolivar. It also has one of the highest rates of inflation in the world.
Kellogg is the latest multinational to close or scale back operations in Venezuela, citing strict currency controls, a lack of raw materials and soaring inflation.

http://www.bbc.com/news/business-44136293

1   Strategist   ignore (1)   2018 May 17, 4:17pm   ↑ like (0)   ↓ dislike (0)   quote        

MisterLefty says
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.

Yup. He's a Commie alright.

MisterLefty says
Kellogg is the latest multinational to close or scale back operations in Venezuela, citing strict currency controls, a lack of raw materials and soaring inflation.

And how are the workers gonna keep producing if raw materials are not available?
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Sad thing is.......Commies never learn.
2   Tenpoundbass   ignore (11)   2018 May 17, 4:22pm   ↑ like (1)   ↓ dislike (0)   quote        

These Liberal companies really care about the little guys until they run out of money. Then they get the fuck out of there.
3   FortWayne   ignore (2)   2018 May 17, 5:00pm   ↑ like (0)   ↓ dislike (0)   quote        

They can't pay government spending if they don't take it from private sector.




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