Bs.564 million, down the toilet

On Saturday, Chávez announced another Bs.564 million rescue to try to plug the neverending financial shortfalls facing the Nationalized Guayana industries. There’s enough candy for everyone in that piñata: Alcasa gets some, Bauxilum gets some, Venalum too, and Ferrominera and Sidor get rather a lot, actually. But it’s not just the big boys; even the bit players…

Searching for black ink, but finding red

Ever wonder how all those chavista companies are doing? Do they make enough to even pay their bills? How much did they really cost? Are the workers there … happy? Well, economists Richard Obuchi, Anabella Abadí and Bárbara Lira did, so they set out, Sherlock Holmes-style, to find the truth about some of those firms…