NEWS AND VIEWS THAT IMPACT LIMITED CONSTITUTIONAL GOVERNMENT
"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams
Friday, April 21, 2017
Communists seize GM plant in Venezuela
"The theory of Communism may be summed up in one sentence: Abolish all private property."
(The Hill) - General Motors announced Thursday that it is immediately pulling out of Venezuela, saying that authorities there seized its car plant.
“[GM] strongly rejects the arbitrary measures taken by the authorities and will vigorously take all legal actions, within and outside Venezuela, to defend its rights,” the car giant said in a statement, according to CNN Money.
The alleged seizure comes as Venezuela faces long-standing political and economic turmoil.
GM said the “illegal judicial seizure of its assets” by Venezuelan officials included cars from company facilities there.
The automaker added that the seizure of General Motors Venezolana, its Venezuelan subsidiary, shows a “total disregard” of its legal rights.
CNN Money said GM Venezolana has operated in Venezuela for 70 years, employing about 2,700 workers there.
GM, which has 79 car dealerships in Venezuela, also promised it would make “separation payments” to Venezolana employees following the reported seizure.