Update from Caracastan: Another exodus taking place

Adios!
Adios!

It’s not just Venezuelans who are stampeding to the exit gate.

Foreign corporations are fleeing too, abandoning the once-prosperous oil-rich nation after years of steady losses.

Maduro and his Cuban advisers blame capitalism, foreign conspiracies, and “hoarders” for the collapse of Venezuela’s economy.

The real culprits are Chavismo and 21st century socialism, which spell disaster for everyone, especially when directed by Castronoid advisors.

The end result will be the creation of a monstrous prison-nation where everyone but the plutocrats are poor, and where life is a constant search for basic necessities in minuscule portions.  In other words, the ultimate end of this process is the creation of another Castrogonia.

Here is the latest chapter in this devolution.

store-empty-shelves

From Reuters

Cleaning products manufacturer Clorox to exit Venezuela

Sept 22 (Reuters) – Home cleaning products maker Clorox Co said it was discontinuing operations in Venezuela as the business was no longer viable and that it was looking to sell its assets there.

The company’s shares rose 6 percent to $96 in premarket trading.

Clorox said the operating restrictions imposed by the Venezuelan government, economic uncertainty and supply disruptions would have led to considerable operating losses for the foreseeable future.

Venezuela devalued its currency bolivar last year, which forced a number of consumer goods companies such as Colgate-Palmolive Co and Avon Products Inc to slash product prices.

Clorox said in June that the economic environment in Venezuela was worsening and the company was “considering all its options.”

For nearly three years, Clorox had to sell more than two-thirds of its products at prices frozen by the Venezuelan government, the company said in a statement on Monday.

The company said it expected to incur after-tax exit costs of $60 million-$65 million, or 46-50 cents per share, in its fiscal 2015.

Discontinued operations are also expected to reflect about $10 million-$15 million in after-tax exit costs over the next three fiscal years, the company said.

Cash-related exit costs, net of expected tax benefits, are expected to be $5 million-$10 million.

5 thoughts on “Update from Caracastan: Another exodus taking place”

  1. There are still people claiming communism itself was not a problem, just bad implementers of it like Stalin and Mao. There is nothing to be said to such people, because it’d be like reasoning with a lunatic. Unfortunately, we’re not talking about a few isolated nutjobs.

  2. When a country so rich in natural resources fucks up like this, you know you’ve got a SERIOUSLY defective society. And no, Venezuelans are no worse than other Latrines. Are these people hopeless or what?

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