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“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. GM went on to call the actions an "illegal judicial seizure of its assets."
"The government’s narrative is that there is an economic crisis in Venezuela ... because they’re in an economic war with business. — David Smilde, a Venezuelan expert at Tulane University"
Venezuelan officials did not respond to requests for comment about why they seized control of the plant. News of the seizure was not widely covered in the Venezuelan press, although a newspaper in Valencia said authorities may have frozen GM’s Venezuelan bank accounts along with taking its property.
Venezuela has been swept by the fiercest protests in years since April 4, when the Supreme Court announced it had stripped the opposition-controlled Congress of its powers. The domestic and international outcry was so intense that some of those powers were quickly reinstated, but the street demonstrations have continued, with tens of thousands of people taking to the streets Wednesday with signs that read “Maduro out” and “Down with dictatorship.”
originally posted by: intrptr
a reply to: pirhanna
CIA fixed that place real good too. Its been a mess ever since...
Venezuela has been seizing major corporation assets for a while now. I fail to see why GM would be special.