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Obama’s buddy Chavez nationalizes an American company

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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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Let’s compare jobs and deficits between Obama and Bush

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Gateway Pundit posted these graphs of unemployment rate and budget deficit from the Obama and Bush presidencies.

(Remember that the Democrats took control of Congress in January 2007 – they own the 2008 budget and unemployment rate)

Gateway Pundit writes:

48 of 50 states have lost jobs since they rammed through their so-callled Trillion dollar stimulus bill passed. The Obama-Pelosi economic plan resulted in a cumulative 7.5 million jobs deficit. In fact, Barack Obama is the worst jobs president since the Great Depression.

These are called facts. They are not the kinds of things that Barack Obama will mention in his speeches because he prefers to focus on emotions and rhetoric. He is not going to talk about unemployment and budget numbers. He is going to talk about hope and change. Don’t get fooled again.

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Boeing announces higher health care premiums for 90,000 workers

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From the Chicago Tribune.

Excerpt:

Aerospace giant Boeing is joining the list of companies that say the new health care law could have a potential downside for their workers.

In a letter mailed to employees late last week, the company cited the overhaul as part of the reason it is asking some 90,000 nonunion workers to pay significantly more for their health plan next year. A copy of the letter was obtained Monday by The Associated Press.

“The newly enacted health care reform legislation, while intended to expand access to care for millions of uninsured Americans, is also adding cost pressure as requirements of the new law are phased in over the next several years,” wrote Rick Stephens, Boeing’s senior vice president for human resources.

[…]Spokeswoman Karen Forte said the Boeing plan is more generous than what its closest competitors offer, and the company was concerned it would get hit with a new tax under the law.

The tax on so-called “Cadillac” health plans doesn’t take effect until 2018, but employers are already beginning to assess their exposure because it is hefty: at 40 percent of the value above $10,200 for individual coverage and $27,500 for a family plan.

[…]Boeing said annual deductibles and copayments will increase for all its plans next year.

Deductibles, the share of medical costs that employees pay annually before their plan kicks in, will go up to $300 for individuals, an increase of $100. For families, the new deductible will be $900, an increase of $300.

In addition, Boeing is instituting a copayment of 10 percent after the deductible has been met. The copayment will rise to 20 percent in 2012.

You can read more about companies affected by Obamacare here.