He seizes a plant, I guess. After grabbing a rice plant from Cargill last month, Chavez has latched onto a pasta plant, as well:
CARACAS, Venezuela — President Hugo Chavez’s government seized temporary control of a Venezuelan pasta-processing plant owned by U.S. food giant Cargill Inc. on Friday, arguing the company broke regulations on food items subject to price controls.
Venezuelan soldiers accompanied Deputy Food Minister Rafael Coronado and other government officials as they arrived at Cargill’s plant in the coastal state of Vargas.
Mr. Coronado said “there was a clear transgression of the law,” referring to legislation that aims to control inflation through government-imposed price controls.
Cargill will, perhaps, get it back in 90 days, if they promise to never try to make a profit ever again. I’d put the bandit mask on Chavez, too, but it’s too easy.
Jason // May 15, 2009 at 3:10 pm
I’m finding it hard to choose sides, here. It’s just as painful to root for Cargill as it is Chavez.
BB2 // May 15, 2009 at 5:35 pm
Good grief, is there an industry Chavez ISN’T seizing all the assets from?
I notice he snagged a bunch of drilling rigs when they said they wouldn’t drill anymore until he paid the 35 million he owed them.
Peter H // May 15, 2009 at 7:47 pm
Does anybody else see the humor in the most recent government plan?? FAP!? HAHA
The Obama administration today announced new details under its Foreclosure Alternatives Program (FAP) enabling servicers and borrowers to pursue short sales and deeds-in-lieu (DIL) of foreclosure in cases where the borrower is generally eligible for a Making Home Affordable modification but does not qualify or is unable to successfully complete the three month trial period. The program, effective through 2012, requires that prior to proceeding with a foreclosure, servicers must determine if a short sale is appropriate.
C.A.R. is gratified that the administration has recognized the need to streamline the short sale and deeds-in-lieu processes, and has provided viable options to homeowners who have fallen behind on their mortgages but owe more than their homes would sell for in today’s challenging market. C.A.R. also appreciates the efforts of our colleagues at NAR for keeping this issue front and center in our nation’s capital.
Sara // May 16, 2009 at 6:20 pm
Chavez may be a d1ckhead and a thief, but he’s not a dictator. For some reason I can’t fathom he is elected in democratic (if imperfect) elections.
alyx // May 16, 2009 at 6:59 pm
Good point. I’ve been mentally discrediting the legitimacy of Venezuelan elections for a while, though, largely because of reading this piece (http://www.washingtontimes.com/news/2008/nov/23/chavezs-fraud-game/ )
wild // May 17, 2009 at 4:22 pm
Interesting final paragraph…
Isn’t it probable: Cargill will return to do business with hat in hand? And upon such return, it will be for the profits! Chavez & the policy to cap the inflation is simply putting an end to rediculous but real ‘fear based pricing pressure’ that frought some markets. ~~~oh haven’t you notice YOUR bread is now bumping the $3 & $4 mark?
What does our country do??? Oh thats right we bitchslap the UAW into lower wages, *with no retention bonus, cut a bunch of unnecessary independent dealers, give the boot to 1 CEO and then get on track for bankruptcy. The facist state we live in has every right to laugh at the democracy in Venezuela that is administered. By the way………there is NO hope that Obama is going to cap the price of oil when he could of done it already, at say$50……………………..It won’t dawn on the facist leadership to ‘do something’ till we climb back over the $100/barrel mark. I’m thinking 2009 is looking for recordsetting 4th quarter oil companys.
wild;)