Today Venezuelan President Hugo Chavez said he will nationalize the operations of US headquartered company Cargil, and Caracas-based food maker Polar. Here is a frightening quote from Mr. Chavez as reported on CNN.com.
It sounds to me like Chavez is taking a page out of the book of Zimbabwe President Robert Mugabe, whose policy of seizing the assets of white farmers and giving them to his cronies, ("land reform" is what they call it) along with other corrupt and unwise economic policy has ruined the entire economy of Zimbabwe.
I have nothing against socialist concepts in moderation, but Chavez' anti-capitalistic and aggressive style is becoming more and more alarming. When you seize the assets of companies that are providing a good service, giving people jobs, and running smoothly, you are likely to disrupt operations and lose efficiencies.