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Little Venezuela update: Former Guardian de Venezuela Plant is “A Shell of Itself,” Says Worker | USGlass Magazine & USGNN Headline News
Private company shuts down due to inflation (they can't afford to produce glass due to inflation/high cost of raw materials) and furnace issues (need repairs).
Government steps in and says that's a sham so they take over the private company. They restart the furnace and continue to keep it running meanwhile they are producing nothing and damaging it further.
Best summary ever:
“Unfortunately, the seizure of Guardian Industries’ factory is not surprising,” Marquez said. “This is the continuation of 16 years of failed economic policies brought upon the country by the late Hugo Chavez and now by Nicolas Maduro. We stand firmly behind Guardian Industries, and all the other thousands of companies that have been expropriated in the past 16 year by Chavez and Maduro, and we believe and understand that the only way for Venezuela to overcome its economic challenges is through a prompt change of government, and the adoption of market-friendly policies.”
Private company shuts down due to inflation (they can't afford to produce glass due to inflation/high cost of raw materials) and furnace issues (need repairs).
Government steps in and says that's a sham so they take over the private company. They restart the furnace and continue to keep it running meanwhile they are producing nothing and damaging it further.
Best summary ever:
“Unfortunately, the seizure of Guardian Industries’ factory is not surprising,” Marquez said. “This is the continuation of 16 years of failed economic policies brought upon the country by the late Hugo Chavez and now by Nicolas Maduro. We stand firmly behind Guardian Industries, and all the other thousands of companies that have been expropriated in the past 16 year by Chavez and Maduro, and we believe and understand that the only way for Venezuela to overcome its economic challenges is through a prompt change of government, and the adoption of market-friendly policies.”
