BLOOMBERG/
U.S. firm Owens-Illinois has been making glass bottles in Venezuela for 50 years. It will continue... but under new ownership.
Today, it was nationalized by President Hugo Chavez.
“The expropriation is already ready of this glass company,” Chavez said on state television. “What’s it called? Owens-Illinois. Expropriate it.” He claimed it " had been exploiting workers."
On the NYSE, the stock plummeted almost 8% even though Venezuela accounts for less than 5% of its profit.
Popular Posts
- BRASIL: 08 Feb UPDATE: Fire In Rio's "Samba City" Destroys Many Carnaval Floats.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- MEXICO : The Tragic Decline of Industrial Powerhouse Monterrey.
- BOLIVIA : Sole Plane Crash Survivor Describes Ordeal: Drinking Urine, Eating Bugs.
- SERBIA / SPAIN / USA : Djokovic Wins US Tennis Open, Beating Nadal; Ranked #1.
- SPAIN: 20 Arrested After Baggage Fees Riot On Ryanair.
- BRASIL: Judge Stops Critical S. Paulo Airport Expansion Over Improper Bids.
- AUSTIN / FRANCE / MEDIA : Lance Armstrong Denies Bullying Others; Claims People Will Forgive Him...Like Bill Clinton.
- COLOMBIA: CAUGHT: 11-year-old Smuggling 74 Cell Phones And Gun Into Medellin Prison.
- ARGENTINA / FRANCE : 13 Sept UPDATE: DNA Results Show Vera And Lasi Killed 2 French Students In Salta.