French Retailer

Great stuff.....just take it! Capitalism is reall dead now IMO. French owned retailer Exito nationalised in Venezuela Monday, 18 January 2010 09:40 News A chain of French supermarkets in Venezuela has been nationalised by Hugo Chavez, the country's President, after claims that they have violated laws by raising prices after the national currency was devalued. During the surge of demand for imported goods which followed the devaluation earlier in the month, the Exito chain, which is controlled by Casino, was closed by the army on allegations that it was raising prices to take advantage of the situation. According to Reuters, the President announced on Venezuelan television that the Exito chain now belonged to the republic, with no going back. The chain, which is run by the Colombian retailer Alamcenes Exito IMI.CN, are the last in a long line of nationalised projects, including oil and power companies. The President also said that legal reforms were being made which would allow the expropriation of other firms suspected of speculation. Shares in Casino dropped 1.8% on the news.

So they were price gouging? And they got shut down? We need a guy like that up here.

If I was a grocery chain, I'd empty my stores out, then have a 90% off Hugo Chavez Sale. Let him deal with the riots at the empty stores.

Chavez... winner of the apprentice show of Castro Venezuela will likely fall to lowest 5 countries in standard of living in this hemisphere in the years to come as long as he is in there. It would have been behind Hatti and Cuba but since he does have oil I bumped him up 2 countries. I cannot believe how some US folks love this guy. Like Sean Penn, Danny Glover, etc. Bunch of fools that have their head up their rear of the reality of this dictator. Hey sure why not they are in their comfy US homes with millions in the bank. They do not have a clue what the people go through in these countries led by these dictators. I won't pay a dime more to ever see any one of these actors in a movie that is on the love Chavez and Castro list.

Edited by zoropb, 18 January 2010 - 10:59 AM.