GENERAL MOTORS: Venezuela Plant Seized

posted by Edward Johnson -

General Motors has been forced to halt its operations in Venezuela after the plant was unexpectedly seized by authorities.

GM, which opened the plant in 1948 and employs 2,700 workers, called the takeover an "illegal judicial seizure of its assets." The country has fallen into turmoil amid an increase in crime and high inflation rates and has seen weeks of deadly protests and demonstrations against the country's president Nicolas Maduro, whom opponents accuse of trying to create a dictatorship. 

GM says it believes justice will be served and the plant will eventually re-open. (NBC News)

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