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GM says Venezuela has seized its car plant


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18 replies to this topic

#1 OFFLINE   silvrsvt

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Posted 20 April 2017 - 08:02 AM

http://money.cnn.com...a-plant-seized/


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#2 OFFLINE   rperez817

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Posted 20 April 2017 - 08:49 AM

This is nothing new in Venezuela. Nicolás Maduro is continuing Hugo Chávez' policy of 'Chavismo'. 

 

In 2009, Chávez seized a pasta factory operated by Cargill. The manner was very similar to how the Maduro government took GM's Valencia car and truck factory this week.


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#3 OFFLINE   rmc523

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Posted 20 April 2017 - 09:55 AM

I'm not going to pretend to know much about it, but if the government is corrupt/dictatorial/taking over things, is there much "legal action" GM can really take?


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#4 ONLINE   fordmantpw

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Posted 20 April 2017 - 10:15 AM

I'm not going to pretend to know much about it, but if the government is corrupt/dictatorial/taking over things, is there much "legal action" GM can really take?

 

I don't think there is much you can do in countries like that.  You're just at their (non)mercy.


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#5 OFFLINE   bdegrand

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Posted 20 April 2017 - 10:26 AM

http://money.cnn.com...a-plant-seized/


Is the Ford Valencia plant still operating in Venezuela?

#6 OFFLINE   rperez817

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Posted 20 April 2017 - 10:31 AM

I'm not going to pretend to know much about it, but if the government is corrupt/dictatorial/taking over things, is there much "legal action" GM can really take?

 

Practically speaking, no sir. Last year, Maduro effectively suspended constitutional rights in Venezuela. Like Chávez, Maduro is opposed to free market economic policies. 

 

It's very unlikely GM will get its plant in Valencia back from the government. Cargill never got back the rice and pasta factory seized by Chávez in 2009. The company still operates other facilities in Venezeula, though. 


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#7 OFFLINE   rperez817

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Posted 20 April 2017 - 11:19 AM

Is the Ford Valencia plant still operating in Venezuela?

 

No sir, as far as I know. Ford's plant in Valencia, Venezuela shut down in December. It was supposed to resume operations this month. But by the way things are going in Venezuela, I doubt the plant started up again. http://www.reuters.c...a-idUSKBN149266


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#8 OFFLINE   rmc523

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Posted 20 April 2017 - 11:51 AM

 

I don't think there is much you can do in countries like that.  You're just at their (non)mercy.

 

Right, that's exactly what I'm getting at.


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#9 OFFLINE   2b2

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Posted 20 April 2017 - 07:53 PM

 

I don't think there is much you can do in countries like that.  You're just at their (non)mercy.

keeping in mind that I'm not in ANY position of responsibility (for anything),

I've certainly enjoyed my fantasies about the U.S nationalizing all VW assets


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#10 OFFLINE   J-150

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Posted 21 April 2017 - 03:14 AM

And yet the Socialists here dont see anything wrong.
I want a 5.0 equipped Focus

#11 OFFLINE   twintornados

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Posted 21 April 2017 - 04:54 AM

And yet the Socialists here dont see anything wrong.

.

There are socialists here on BON???


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A government big enough to give you everything you want is a government big enough to take from you everything you have. ~ Gerald Ford - August 12, 1974

#12 OFFLINE   J-150

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Posted 21 April 2017 - 12:29 PM

.
There are socialists here on BON???


Good gawd i hope not. I meant US and Canada.
I want a 5.0 equipped Focus

#13 OFFLINE   twintornados

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Posted 21 April 2017 - 04:10 PM

So.....no more Cavaliers?? DAMNIT!!!


Does anyone know where the love of god goes, when the waves turn the minutes to hours....Gordon Lightfoot, "Wreck of the Edmund Fitzgerald"

A government big enough to give you everything you want is a government big enough to take from you everything you have. ~ Gerald Ford - August 12, 1974

#14 OFFLINE   rperez817

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Posted 21 April 2017 - 04:35 PM



So.....no more Cavaliers?? DAMNIT!!!

 

Chevrolet Cavalier is still made and sold in China. http://www.chevrolet.com.cn/cavalier/

 

cavalier_china-1.jpg


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#15 OFFLINE   twintornados

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Posted 22 April 2017 - 05:08 AM

 

Chevrolet Cavalier is still made and sold in China. http://www.chevrolet.com.cn/cavalier/

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Edited by twintornados, 22 April 2017 - 05:08 AM.

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Does anyone know where the love of god goes, when the waves turn the minutes to hours....Gordon Lightfoot, "Wreck of the Edmund Fitzgerald"

A government big enough to give you everything you want is a government big enough to take from you everything you have. ~ Gerald Ford - August 12, 1974

#16 OFFLINE   silvrsvt

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Posted 24 April 2017 - 09:59 AM

 

Chevrolet Cavalier is still made and sold in China. http://www.chevrolet.com.cn/cavalier/

 

cavalier_china-1.jpg

 

 

Its a rebadged Cobalt? 


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#17 OFFLINE   rperez817

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Posted 24 April 2017 - 11:53 AM

 

Its a rebadged Cobalt? 

 

No sir. New Chevy Cavalier in China is actually a heavily revised first generation Cruze. It's sold at a lower price point than the completely new second generation Cruze.


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#18 OFFLINE   jpd80

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Posted 24 April 2017 - 09:10 PM

Does anyone have a handle on how much of the respective losses in GM and Ford's

South American divisions is attributed to plant  (asset) write downs?

 

Sounds like continuing problems in South America are dragging down the books for both corporates,

is it just one or two countries or across the whole region?



#19 OFFLINE   rperez817

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Posted 25 April 2017 - 09:35 AM

Sounds like continuing problems in South America are dragging down the books for both corporates,

is it just one or two countries or across the whole region?

 

Brazil and Argentina mostly. These two countries are the largest markets by far in South America for Ford and General Motors. Guyana and Suriname probably don't mean much to either company. ;)


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