WEB Notes: Boohoo. They should have considered this as an option before they outsourced American jobs. The US government is also to blame for their extremely high taxation rate on American business. This is yet another sign that Venezuela is suffering dramatically economically and we are starting to see them in the news once again.
General Motors has stopped doing business in Venezuela after authorities took control of a factory in what GM called an illegal judicial seizure of its assets.
The plant was confiscated on Wednesday as anti-government protesters clashed with authorities in a country that is roiling in economic troubles such as food shortages and triple-digit inflation.
The Detroit automaker said in a statement Thursday that other assets such as vehicles were taken from the plant, causing irreparable damage to the company.