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"CARACAS, Venezuela â€" Venezuelan President Hugo Chavez ordered the expropriation of U.S.-based glass container manufacturer Owens-Illinois Inc.’s subsidiary in the South American country.

Company spokeswoman Stephanie Johnston said today that “we were surprised to learn of this decision and we are prepared to work with government officials to better understand the situation.â€

http://www.oregonlive.com/business/inde ... owens.html
 

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Wyatt's Torch

In the instant before she saw it and her scream cut the voices of the crowd, she knew that she had known that which she was to see. In a break between mountains, lighting the sky, throwing a glow that swayed on the roofs and walls of the station, the hill of Wyatt Oil was a solid sheet of flame.
Later, when they told her that Ellis Wyatt had vanished, leaving nothing behind but a board he had nailed to a post at the foot of the hill, when she looked at his handwriting on the board, she felt as if she had almost known that these would be the words: "I am leaving it as I found it. Take over. It's yours."
 

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Malum Prohibitum said:
Wyatt's Torch

In the instant before she saw it and her scream cut the voices of the crowd, she knew that she had known that which she was to see. In a break between mountains, lighting the sky, throwing a glow that swayed on the roofs and walls of the station, the hill of Wyatt Oil was a solid sheet of flame.
Later, when they told her that Ellis Wyatt had vanished, leaving nothing behind but a board he had nailed to a post at the foot of the hill, when she looked at his handwriting on the board, she felt as if she had almost known that these would be the words: "I am leaving it as I found it. Take over. It's yours."
I was thinking about Wyatt's torch too!
 

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I cannot feel sorry for any company still doing business in that crap hole. I only felt sorry for them the first several months that Chavez started taking over companies. They should have cut their losses and got out.
 

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tgrt said:
I cannot feel sorry for any company still doing business in that crap hole. I only felt sorry for them the first several months that Chavez started taking over companies. They should have cut their losses and got out.
Dancing with the Devil, and they just got burned.

Any level-headed foreign co. doing business in VEN knows it is only a matter of time before you just cannot pay the graft the officials want, and you will lose every physical asset on VEN soil.

Absolutely, w/o a doubt, burn it to the ground.
 

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I am sure that Chavez would make sure the Americans at the company were indefinately detained to determine who set the blaze.
 

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RIA45 said:
I am sure that Chavez would make sure the Americans at the company were indefinately detained to determine who set the blaze.
As if the blaze operation could not employ otherwise qualified domestic help. Think of it a last bit of economic impact for VEN by the company.

Agreed, that proper prior planning would deter a p***-poor performance.
 

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RIA45 said:
I am sure that Chavez would make sure the Americans at the company were indefinately detained to determine who set the blaze.
Just remote detonate it at the embassy.

But knowing Obama, he probably wouldn't help them get out of the country.
 

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Maybe the US should respond by taking over a Venezuelan company's US operations? Isn't Citgo a Venezuelan company?
 

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fmlaw1 said:
tgrt said:
I cannot feel sorry for any company still doing business in that crap hole. I only felt sorry for them the first several months that Chavez started taking over companies. They should have cut their losses and got out.
Dancing with the Devil, and they just got burned.

Any level-headed foreign co. doing business in VEN knows it is only a matter of time before you just cannot pay the graft the officials want, and you will lose every physical asset on VEN soil.

Absolutely, w/o a doubt, burn it to the ground.
Operations on foreign soil cost a lot to setup. When you have a large sunk cost you try to ring every last drop of revenue out of operations. These assets were written off a long time ago.
 
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