April 20, 2017

HOARDERS AND WRECKERS: General Motors Quits Venezuela After Officials Seize Plant.

The seizure, in the country’s industrial hub of Valencia, comes amid a deepening economic and political crisis that has sparked weeks of deadly street protests.

General Motors Venezolana, GM’s local subsidiary, said it “strongly rejects the arbitrary measures taken by the authorities and will vigorously take all legal actions, within and outside of Venezuela, to defend its rights.”

The auto giant did not provide any details about its plant being seized, other than saying it “was unexpectedly taken by authorities, preventing normal operations.” It said other assets, “such as vehicles,” had also been stripped from the site.

“Unexpectedly,” GM? Really?