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    everything old is new again, and again..., 2009-03-04 11:26:08 | Main | mass civil delinquency..., 2009-03-05 09:32:26

    venezuela blah blah blahs:

    Bloomberg's report on the nationalization of some agricultural firms actually attempts to reach the level of they-say others-say balance, which is only slightly better than what seem to be op-eds masquerading as reports.

    The government instituted price controls for this or that reason, whatever the scant wisdom of that, Cargill et.al. are alleged to have done some regulatory arbitrage - that's the buzzword these days I guess - evading said price controls by adding some artificial flavoring to their rice and jacking the price, and so Chavez sends in the jackboots:

    Agriculture Minister Elias Jaua said today on state television that Polar was processing 90 percent of its rice outside of price controls and charged double for the product after adding a powder with artificial coloring and flavoring.

    The Venezuelan Rice Mill Association, known as Asovema, lists 11 companies as members on its Web site, including Minnesota-based Cargill Inc.

    Lisa Clemens, a Cargill spokeswoman in Minnetonka, Minnesota, didnít immediately return telephone and e-mail messages seeking comment. A security guard at Cargillís office in Caracas said there was no one available to comment.

    Rafael Torres, a supervisor at the Iancarina CA processing plant in Venezuelaís Portuguesa state, said he was unaware of Chavezís order and that the plant was operating normally.

    Asovema issued a statement expressing surprise at the measure because the industry is producing at full capacity and the government has yet to establish quotas for different types of rice, according to El Universal. The governmentís action wonít increase the supply of rice in supermarkets, the statement said.

    Well that's all very illuminating. How hard would it be for the international press to... taste some rice? Or shop for dinner? Would it be too much to look at some financial statements? Do the bare minimum of actual reporting on a headline international story? It's generally bewildering how the news from Venezuela can always make the news without any reporting of any news.


:: posted by buermann @ 2009-03-04 20:57:28 CST | link





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