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  #1  
Old 04-20-2017, 12:06 PM
boston boston is offline
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Default Venezula Siezes GM factory

http://finance.yahoo.com/news/genera...070823494.html

CARACAS (Reuters) - General Motors said on Wednesday that Venezuelan authorities had illegally seized its plant in the industrial hub of Valencia and vowed to "take all legal actions" to defend its rights.

The seizure comes amid a deepening economic crisis in leftist-led Venezuela that has already roiled many U.S. companies.

"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.

It said the seizure would cause irreparable damage to the company, its 2,678 workers, its 79 dealers and to its suppliers.
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Old 04-20-2017, 06:25 PM
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Ascariss Ascariss is online now
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Let's keep the discussion non-political, please only relate it to how it could/will affect gm and it's bottom line.
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Old 04-20-2017, 09:38 PM
Modern Design Modern Design is offline
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Quote:
Originally Posted by Ascariss View Post
Let's keep the discussion non-political, please only relate it to how it could/will affect gm and it's bottom line.
You only want lovey-dovey car news without the truth about the decline in the auto industry.
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