Tag Archives: SOEs

“Sure, we’re wasting a ton of money there, but at least the workers are pissed…”

Posted on March 13, 2012 by

Longtime readers know all about my morbid obsession with the Guayana State Owned Basic Industries: the massive money pits in the aluminum, coal and steel sectors where the promise of revolutionary socialism collides head-on with the realities of economic rationality on … Continue reading →

Posted in The Economy | Tagged , , , | 27 Comments

Bs.564 million, down the toilet

Posted on September 19, 2011 by

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 … Continue reading →

Posted in The Economy | Tagged , , | 13 Comments

Searching for black ink, but finding red

Posted on August 11, 2011 by

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, … Continue reading →

Posted in Labor Movement, The Economy | Tagged | 28 Comments