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Post by livinginmedellin on May 23, 2016 15:47:11 GMT -5
Bridgetone tire is the latest to abandon Venezuela. Tire maker Bridgestone is selling its business in Venezuela after six decades in the country, the latest blue chip company to abandon the country as a result of runaway inflation and strict currency controls. Bridgestone Americas says in a statement Monday that it is selling its Venezuela assets to Grupo Corimon, a local industrialist. It says the company will be called Alice Neumaticos de Venezuela. Bridgestone says the sale will have no financial impact because it already has written off its investments in the crisis-wracked country. The Nashville-based company joins other foreign multinationals including Halliburton, Ford Motor and Procter & Gamble who have either slowed or abandoned their investments in Venezuela. See: abcnews.go.com/International/wireStory/bridgestone-abandons-crisis-wracked-venezuela-62-years-39317136Also Clorox; General Mills; cellphone providers stopped international calls; two airlines, Air Canada and Alitalia, have suspended their operations altogether in Venezuela, and more than a dozen other airlines have drastically reduced their number of flights. Many US companies with exposure to Venezuela have been collectively forced to take billions of dollars of writedowns in recent years as Venezuela’s currency problems accelerate. Things are only going to get worse in Venezuela. IMHO any foreign company doing business in Venezuela should be looking to get out.
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Post by suba on May 23, 2016 17:49:34 GMT -5
Japan stopped underwriting trade insurance for Venezuela over a year ago, I'm surprised Bridgestone stuck around as long as they did.
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Post by entonces on May 23, 2016 18:13:43 GMT -5
Adios Bridgestone. As shown in the link posted by gallito under "U.S. should be afraid" the BBC persists in documenting without criticism or analysis the socialist triumph in a tower block of Caracas apartments. The building manager (the one with the large and comfortable apartment) says that the people marching in the streets are not Venezuelans and that even if some of them are, that they are in the service of foreign powers. His job is probably secure and the BBC once again does nothing to dispel its reputation as a shill for the left.
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Post by billyb on May 23, 2016 18:23:29 GMT -5
Baghdad Bob got a job in Caracas.
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Post by gallito on May 23, 2016 18:31:02 GMT -5
Adios Bridgestone. As shown in the link posted by gallito under "U.S. should be afraid" the BBC persists in documenting without criticism or analysis the socialist triumph in a tower block of Caracas apartments. The building manager (the one with the large and comfortable apartment) says that the people marching in the streets are not Venezuelans and that even if some of them are, that they are in the service of foreign powers. His job is probably secure and the BBC once again does nothing to dispel its reputation as a shill for the left. Yes the media has a lot of influence over people;they can twist minds and distort perception...political pawns they are.
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