Tag Archives: Corporation

Obama’s buddy Chavez nationalizes an American company

CBS News: Chavez orders expropriation (nationalization) of American company Owens-Illinois. (H/T ECM)

Excerpt:

Venezuelan President Hugo Chavez on Monday ordered the expropriation of U.S.-based glass maker Owens-Illinois Inc.’s unit in the South American country.

Chavez announced plans to expropriate the company in a televised speech, saying it operates in western Trujillo state.

The leftist leader criticized the company’s practices in the country, saying it had been “taking away the money of Venezuelans” and exploiting local people. Chavez did not detail his complaints about the company.

There was no immediate reaction from the company, based in Perrysburg, Ohio.

Owens-Illinois also has operations throughout Latin America in Colombia, Brazil, Peru, Ecuador and the Caribbean, focusing on the manufacture of glass containers.

It was unclear how the government would handle compensation for the company’s assets in Venezuela.

Chavez has nationalized or expropriated a wide range of companies, including cement makers, retail stores and steel mills, while seeking to lead Venezuela toward a socialist system.

He said in his speech that more expropriations are planned.

“There’s another list around here,” Chavez said, but added that he would save additional announcements for later.

Here’s the Republican response to Hugo Chavez’s latest anti-American aggression.

Excerpt:

Republican U.S. Rep. Connie Mack targeted Venezuelan leader Hugo Chavez on Tuesday — and ripped into the Obama administration for not standing up to him.

Mack, the ranking Republican on the House Subcommittee on the Western Hemisphere, noted that Chavez was continuing a world tour to push his country’s oil exportation.

[…]“While Chavez reaches out to nations across the world to explore and refine Venezuelan oil, what is the Obama administration doing?” demanded Mack, who is rumored to be running for the U.S. Senate in 2012. “The administration is failing to protect U.S. national security interests by ignoring the fact that we currently rely upon Venezuela for approximately 10 percent of U.S. oil imports. Instead of strengthening oil reserves or working with important U.S. allies such as Canada – which is well-poised to increase the flow of crude oil to our refineries – the Obama administration has not made it a priority.

“What’s more, as the administration sits idly by, Chavez continues his quest to nationalize key private-sector industries,” continued Mack. “During his trip to Belarus, Chavez announced the nationalization of two gold mines in Venezuela, and just yesterday Chavez announced the expropriation of the local affiliate of U.S.-based glassmaker Owens Illinois. Chavez acknowledged that his government has “a list with more names” of companies in Venezuela that will be expropriated.

“The Obama administration must get serious about dealing with the inherent threat that Chavez poses to our nation and the region,” concluded Mack. “We must take a hard look at our current energy portfolio and invest in energy projects with countries that respect international legal standards. And finally, for the security of our economy and the free market, Congress must support the pending free-trade agreements by passing them without delay.”

Where is Obama? Shouldn’t he be saying something about this?

Hey Obama! I can nationalize more private corporations than you can!

Oh. I guess they are having some sort of communist competition or something. Maybe trying to see whose country can hit 20% unemployment first?

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American hero and his private corporation save 33 Chilean miners

Here’s the setup from Canada Free Press.

Excerpt:

Things looked grim for the miners when the San Jose mine collapsed on Aug. 5.  It was going to take painstaking patience and a marvel of engineering to bring the men, trapped 2,100 feet below, to the surface.

When it became clear that all 33 miners trapped in the mine were alive, an emergency call went out to find the expertise to save them and was answered by the Mission Woods, Kansas Layne Christensen Company, who sent their most experienced drillers to the rescue.

Although they’ve shunned the publicity, the heroes in this rescue mission are ones of epic proportion.  They include two drillers Jeff Hart and Matt Staffel, who had been drilling water wells in Afghanistan to support U.S. troops stationed there.  Assisting the drillers were two Spanish-speaking drilling helpers, Doug Reeves and Jorge Herrera from Layne’s western region in the U.S.

(Layne’s Latin American affiliate) “Geotec operations manager James Stefanic said he quickly assembled “a top of the line team” of drillers who are intimately familiar with the key equipment, including engineers from two Pennsylvania companies—Schramm Inc., which makes the T130 drill, and Center Rock Inc., which makes the drill bits.” (Michelle Malkin, Oct. 12, 2010.)

From Investors Business Daily.

Excerpt:

The leadership of Chile President Sebastian Pinera, believing fiercely in globalization and free markets, and not believing in limits, seemed to make a critical difference.

Pinera refused to shut out foreign expertise. As the world focused on Chile’s miners underground, the rescue operation above was characterized by an Apollo 13-like sense of mission. Failure was not an option.

That gave the mission an international flavor a la “Star Trek.” Unlike President Obama, who invoked the Jones Act to spurn foreign offers of help in April’s Gulf oil spill, or Russia’s Vladimir Putin, who said “nyet” to American naval rescue ships after the Kursk nuclear sub sank in Arctic waters in 2000, leaving 29 to die at a depth of 650 feet, Pinera brought in the best brains outside his country to improve the odds of success.

Among companies responding was Schramm Inc., the Pennsylvania-based manufacturer of drilling rigs, which produced the drills that first reached the miners and then carved out their rescue path, with UPS shipping a 13-ton product from the Keystone State in just two days.

Another Pennsylvania company, Center Rock, provided the drill bit. Texas’ Techint came up with steel tubes that made the shaft safe. Geotec Broyles Bros.’ American engineers operated the drill, and Maryland-based Zephyr Technology provided the medical monitors during the rescue.

Argentine, Canadian and Australian companies also had roles, as did NASA. The result was a showcase of mostly American engineering that didn’t take any credit away from Chile.

Pinera also grasped the importance of just being on hand and transparent. The Chileans communicated clearly with both the miners and the outside world about what was happening. One of the first three holes drilled by rescuers was for communication.

Pinera spent a lot of time at the remote desert site. He was there when the incredible discovery of life was made, and he assured the miners the long wait for their rescue was strictly geological and logistical — not bureaucratic. He gave everyone hope by being engaged and involved.

Michelle Malkin writes:

In a different day and age, Jeff Hart would be the most famous American in our country right now. He would be honored at the White House. Schoolchildren would learn of his skill and heroism. But because Jeff Hart works in an industry under fire by the Obama administration, more people in Chile will celebrate this symbol of American greatness than in America itself. Jeff Hart is a driller based in my home state of Colorado. The father of two has been drilling water wells in Afghanistan at U.S. Army bases. When the San Jose Mine in Chile collapsed in August, he flew to lend his renowned expertise to the rescue effort. As part of an amazing three-way race to the trapped miners, Hart drilled for 33 days straight and was first to reach the caved-in workers. The AP recounts the story – and what strikes me again and again is how the world turned to American ingenuity and American fortitude and American equipment and American enterprise to get the job done…

Government cannot solve problems. Academic elites in the humanities cannot solve problems. Left-wing union thugs shouting slogans cannot solve problems.

Entrepreneurs and engineers solve problems. Capitalism solves problems. Businesses solve problems. America solves problems.

Venezuela legislature votes to nationalize 11 US-owned oil rigs

Story from Breitbart.

Excerpt:

Venezuela’s legislature has voted to nationalize 11 oil rigs owned by the US firm Helmerich & Payne.

The rigs, located in Monagas, Anzoategui and Zulia states, will be taken over by state oil giant Petroleos de Venezuela (PDVSA), the official news agency AVN said.

PDVSA had asked the legislature controlled by supporters of leftist President Hugo Chavez to take over the rigs after the US firm declined to negotiate a new service contract, unlike 32 other foreign firms.

The oil giant is South America’s top oil producer.

Since 2007 Caracas has nationalized companies in industries from oil to utilities, to telecoms, cement, steel and banking.

Speaking of Breitbart, do you all know the famous actor Michael Moriarty from the TV show “Law and Order”? He linked to me yesterday from Breitbart’s Big Hollywood web site. Isn’t that amazing! I think it’s just by accident, I’m sure he isn’t a regular reader.

UPDATE: Ooops almost forgot.

Hey Chavez! I bet that I can nationalize more private corporations than you can!

Actually there is a nice summary of Obama’s demolition job on the economy that you can read in the Wall Street Journal. I liked it. Most of the stuff I blogged about already as it happened.

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