Govn't has seized 401 companies so far this year in Venezuela

The pace of expropriations has not slowed down. The Venezuelan government has seized 401 private companies so far this year, according to the Venezuelan Confederation of Industries (Conindustria).

"There have been 401 seizures of companies so far this year. This situation creates legal uncertainty; drives investments away; and reduces the possibility of increasing production," Conindustria said in a press release related to the expropriations of private companies Forjas Santa Clara, Tetracero and Cartonajes Granics.

The data provided by the industrial association confirm a sustained increase in expropriations since 2009. "More than 80% of recorded expropriations of private companies by the government have taken place since 2009, at a growing rate," the document said. It also highlighted "that 11 companies have been seized only in August."

http://www.eluniversal.com/2011/08/23/govnt-has-seized-401-companies-so-far-this-year-in-venezuela.shtml

That's 401 companies that will be less productive next year.

Please make no mistake, Chavez is continuing the neoliberal agenda paying off companies and lining the pockets of many many people, companies that may or may not be useful for state projects. Populists are the neoliberal wet dream.

...I find that unlikely to be the case for the lion share of these deals. Exxon is vying for more of the Venezuelan taxpayer dollars so that ultimately every Venezuelan gets shafted by an increased neoliberal policy of lining the pockets of the rich, but it applies in any case the government has to buy companies for the better good.

You look at something like the United States' "Armed Services Procurement Act" which basically says that the United States owns the black-water type contractors (all assets, all technology developed, everything but the shoes on the feet of the contractors, and they might even own those if they're bought within the confines of the contract!).

How many billions has the United States wasted on these "contractors" which are nothing more than US government extensions? It's the same principle.

And it is extremely neoliberal to the core. Make no mistake about it.