Fresh off a report showing that President Hugo Chávez has expropriated a staggering 762 companies between 2005 and 2009, the Venezuelan strongman appears poised to make a run at more than 800.
During a six-hour long “Aló Presidente” show on Sunday, Mr. Chávez announced plans to forcibly seize and nationalize at least 80 more private companies. This most recent expropriation binge will affect two prominent Venezuelan enterprises – aluminum can producer Alentuy CA and food container producer Envases International SA.
Next on the expropriation chopping block are grocery chain Supermercados Cada and prepared meat producer Verdugo. In explaining his actions, Mr. Chávez again accused the companies of violating price controls and hoarding.
Mr. Chávez went on to issue stark warnings to U.S. giants Pepsi and Coca-Cola, each of whom has long-running operations in Venezuela. He decried their water bottling ventures, declaring that “water is a social property” and that the corporations’ practices would be subject to his review.
Throughout the telecast, Mr. Chávez repeatedly labeled as “the bourgeoisie” anybody taking a stance against his purging of Venezuela’s private sector, a list that includes the likes of the Organization of American States, United Nations, European Parliament, and even his own people. Eighty percent of the Venezuelan population reject his expropriation measures, according to the latest national poll.