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Venezuela says it didn't seize GM plant for state use
 Venezuela says it has not seized a General Motors plant in the country for state use. "We didn't expropriate!"Non non! Venezuela's economic minister, Ramon Lobo, tweeted Thursday night, sharing photos of a meeting with GM workers at the plant. "It's ummm ...something else" Venezuelan officials said the plant is actually under "embargada." In other words, GM's assets in the country are frozen, but authorities emphasize that the plant should continue production. Chavista Commies don't understand how things work But GM isn't changing tack. The automaker told CNNMoney Friday it stands by its statement on Wednesday, saying Venezuelan authorities had seized its car assembly plant in the country. GM shut down operations there because of the alleged illegal seizure, putting 2,678 workers out of work. Venezuela said it took the action to resolve a long-running dispute involving GM going back to 2000. But officials want the plant to continue production while GM's assets in Venezuela are frozen. What's unclear is how the plant could forge ahead with production given that GM says it has ceased operations. Posted by: Frank G 2017-04-22 |
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