Venezuelan President Hugo Chavez, who was in New York, failed to mention in his speeches that he's confiscating property in his country. While he called for the UN to be moved and took the time to scold countries, he said nothing of stealing a Heinz processing center.
... newspapers in the South American country reported that another food company that has had grain storage silos seized by the government is being pressured to drop prices on corn flour sold to the poor as a condition for resolving the dispute.
Venezuelan officials have been quoted as arguing plant seizures there may be justified as a means of taking idle or under-used assets and, by putting facilities and equipment back to work, serving the public interest.
Heinz and Alimentos Polar, the food company trying to gets its corn silos back, are among a growing group of corporations sorting through the implications of the Venezuelan government's latest steps. Heinz has said it was trying to sell the affected plant anyway, but the broader business community will likely be watching to see what comes next, said Olson.
In this case, the company seems unlikely to walk away from a country where it has operated for more than 45 years and continues to employ 700 workers at plants that have not been seized.
Let this be a lesson to all you companies sending jobs and plants overseas. Support the US workforce and you wouldn't face things like this.
Tipped by: Lonewacko
Well, I wonder what Teresa HEINZ-Kerry has to say about her fellow socialist?
I'm sure she understands the need to steal others property fot the "good" of the people.
Posted by: KurtP on September 19, 2005 10:14 PM