Subject: txt intl sclm bbro libs -
CARACAS --President Hugo Chavez ordered Sunday the seizure of a French-owned retail chain on accusations that it raised prices after Venezuela devalued the currency by half. "Until when are we going to allow this to happen?" Chavez asked during his Sunday television program in reference to the alleged price hike by Almacenes Exito, headquartered in Colombia and controlled by French retailer Casino Guichard-Perrachon S.A....
[Can you imagine a national leader dictating to private industry like this? It's analogous to a US president imposing taxes on businesses for the employee bonuses it pays - bizarre...]
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Wednesday, January 20, 2010
Venezuela Nationalizes French-Colombian Retailer Exito
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