Tag Archives: Expropriation

Jun
2
2010
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Chávez declares ‘economic war’ against Polar and bourgeoisie

Venezuelan President Hugo Chávez said he’s declaring an “economic war” against the “bourgeoisie” after businesses chambers criticized his handling of the economy and the performance of nationalized companies, reported Bloomberg.

Chávez said Venezuela’s largest food producer, Empresas Polar SA, is manipulating workers into attacking his policies and challenged company President Lorenzo Mendoza to see who will last longer.

Mendoza, Chavez said, won’t get into heaven because he’s wealthy, according to Bloomberg. “You’ve declared an economic war against me, so I accept your challenge, stateless bourgeoisie,” Chávez said today during a visit to a state-run vegetable oil company. “I’m declaring an economic war with the help of the people and workers. War is war, my friend. Don’t complain to me later.”

Chávez has nationalized companies in the oil, food, cement and metals industries as part of his push for socialism and he blames the private sector for accelerating inflation and a recession that is forecast to continue into 2011. Chávez has threatened to nationalize Polar to boost state control over the production and distribution of food, and the government seized one of the company’s rice plants for three months last year.

Read here Bloomberg’s story.

RELATED STORIES:

Chávez threatens to nationalize Empresas Polar, Venezuela’s largest food producer (AP)
Chávez a Mendoza: Acuérdate de RCTV, mírate en ese espejo (Noticias24.com, Spanish)
“Mendoza vamos a ver quien puede más: tú con tus millones o yo con mi moral” (Noticias24.com, Spanish)

 
Jun
2
2010
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Chávez: Rotten food at state-run port stinks; Venezuela seizes control of 3 more brokerages amid crackdown on currency trading

Venezuela news for June 2, 2010. Stories you must read today if you care about protecting democracy, human rights, freedom of expression and private property in Venezuela:

Chávez: Rotten food at state-run port stinks (AP)
Venezuela’s government seizes control of 3 more brokerages amid crackdown on currency trading (AP)
Iris Varela threatens to radicalize actions against Polar (El Universal, spanish)

 
May
28
2010
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Report: over 760 expropriations in Venezuela despite public repudiation for Chávez’s measures

A report released this week by a Venezuelan civil leadership group shows the Chávez government has expropriated 762 companies between 2005 and 2009. Last year alone, 374 expropriation cases were documented. The report confirms a disturbing trend of increased government hostility towards the private sector in Venezuela.

President Chávez’s war against private property intensifies the pressure on an already ailing Venezuelan economy. Also this week, Venezuela’s Central Bank announced a 5.8% decline in the country’s GDP during the first quarter of 2010. President Chávez’s anti-private property measures are “seriously affecting the production capacity and the ability to meet consumers’ needs,” according to Venezuela’s Confederation of Industries President Carlos Larrazábal.

The release of the expropriation data coincided with the release of a new poll showing widespread repudiation by Venezuelans for Mr. Chávez’s measures. The survey, conducted by Alfredo Keller & Associates, reveals that 80% of Venezuelans reject Mr. Chávez’s expropriation measures. The poll also shows that 61% of Venezuelans believe there should be a change in government in their country.

While the majority of Mr. Chávez’s expropriations have been suffered by Venezuelan companies and private property owners, foreign companies also have been impacted by his arbitrary actions. Some of the U.S. companies affected include Cargill, Hilton Hotels, Verizon, AES, Wendy’s and McDonald’s.