Venezuelan President Hugo Chavez has nationalised the country's largest steel company.
Last month he announced the measure would be taken following a breakdown in talks on pay and conditions between unions and the owners of Ternium-Sidor.
The president set a 30th June deadline for the transfer of the company's assets to the government.
At present, Argentina's Techint owns 60 percent of the company, which produced 4.3 million tonnes of liquid steel in 2006.
| By None007, 05-13-08, 09:38 PM |
Doesn't matterThose questions need not be answered for a very simple reason: we all know how production falls when any government takes over a factory operation. Even the worst run factory under the free market system will outperform a factory run by a Socialist government. That’s why Cuba’s economy is in shatters and that’s exactly why the giant Soviet Union collapsed in the first place. This move will definitely bring in short-term benefits to Chavez himself, but nothing to the long-term interests of ordinary Venezualans. Once productivity suffers in a year or two and the factory closes, guess who the biggest loser will be. |
| By None007, 05-13-08, 09:39 PM |
Doesn't matterThose questions need not be answered for a very simple reason: we all know how production falls when any government takes over a factory operation. Even the worst run factory under the free market system will outperform a factory run by a Socialist government. That’s why Cuba’s economy is in shatters and that’s exactly why the giant Soviet Union collapsed in the first place. This move will definitely bring in short-term benefits to Chavez himself, but nothing to the long-term interests of ordinary Venezualans. Once productivity suffers in a year or two and the factory closes, guess who the biggest loser will be. |
| By carloss, 05-13-08, 06:39 PM |
give me a breakpoor jimbob... his paranoia is showing again.. take a year and watch the production at the steel mills drop after this move. |
| By ~galljdaj+, 05-13-08, 08:27 AM |
Chavez nationalises Venezuelan steelAre there any questions not being asked by the writer of this 'news' article? Are we being given a news worthy article or a piece of propaganda?
Did and how did Techint fail its responsibilities?
Who is Techint? What’s the History of the Corporation? Is it a spider web corporation?
Techint, how long has it been operating in Venezuela?
Is Techint’s 'interest in Building Venezuela? Or is it strip minning Venezuela Resources?
Is it a by-product of the IMF and/or WB?
Is the Nationalization an Unjust Act? Or, was Techint supposed to 'do' something it did not do?
Obviously Venezuela has had a dispute even by the article we can understand that, so what has Techint done to resolve the dispute?
There are lots more questions! Some like how many US OWNERS are part of Techint? Is Techint a Globalization Octopus Feeding on Venezuelans? |
| By Jimbob, 05-13-08, 06:16 PM |
ProbablyProbably!! |
| By Kenneth T. Tellis, 05-14-08, 07:55 AM |
Chavez's nationalization of the steel industry rightMost of the foreign owned industry were busy making money by deliberately creating shortages in Venezuela, now that is over.
The people of Venezuela will not be exploited by U>s> and other countries, because they now the means. Every industry so far nationalized in Venezuela was in the game of black-marketeering. Perhaps now Venezuelans can move forward without having their country controlled by someone in the White House.
It is long way from Simon Bolivar to Hugo Chavez and the journey has been arduous, but Venezuela can now reach its full potential without interference.
Viva Venezuela libre! |
| By Simone Andujar, 05-14-08, 09:41 PM |
Chavez is a freak!Chavez needs to give it up the freak!! |
| By Luis, 05-15-08, 02:29 AM |
Please read a little morehttp://www.venezuelanalysis.com/ |
| By Luis, 05-15-08, 02:31 AM |
Please Read a Little Morehttp://www.venezuelanalysis.com/ |
| By tutu, 05-15-08, 12:33 PM |
shut up! and seeviva Chavez
viva socialist!
let see! the history will prove what we’ve done are great! |
