Argentinian government is taking over Vicentin?

[Dougie]

These idiot communists think their way of bailing out failing companies is better. Using public money to rescue a company and then actually taking ovnership in return for the public who put in the capital.

/Written in parody.

As antidopean wrote, public takeover of companies can work in the case of a competent government with low levels of corruption. New Zealand, Norway and even Codelco in Chile.

Knowing the track record of Argentine politicians, do you think the company will be well run with a nice return that will be spent in the public interest?

 

[zensailor]

The problem is that the new political appointees are likely to be totally unqualified people, chosen only by their blind allegiance and their willingness to kick back a percentage of their salary. The new lazy jobs will go to politicians' relatives, their gardeners, their driver's girlfriend, or someone's secretary's third cousin once-removed.

Trump isn't involved in this.

 

[on the brink]

Trump isn't involved in this.

Good sense of humor, Zen......! His two top political advisors are his daughter Ivanka and his son in law, Kushner.

Every time I despair of the Argentine government I think of His Orangeness, and realize that the US has it worse than we do.

 

[HenryNisental]

Is not it funny? A federal goverment is trying to rescue a private company from bankruptcy, when in fact it is itself broken and in default!!

 

[Jeremias]

Is not it funny? A federal goverment is trying to rescue a private company from bankruptcy, when in fact it is itself broken and in default!!

The maquinita is truly a thing of beauty, indeed. Creating funny money to rescue a sunken company that lost all its true hard currency...

Anyway, by all accounts, Vicentin was extremely badly run, and almost criminally managed by its private owners. So, it might be a case when the State would be right in intervening. I mean, it's hard to defend Vicentin's owners, from what one reads of their misdeeds... apparently they diverted tons of money, and were rather incompetent.

 

[sts7049]

instead of intervening, let it fail. private industry will step in and fill the gap.

 

[Redpossum]

Believe me, you've just learned more than if you had studied 3 years Political Science.

I resemble that comment!

 

[Pierre Smith]

I say it again: while we can all predict the results, the alternative is a foreign company or country (eg. China) swooping in and acquiring this company.
Better this is acquired, badly run, and eventually re-privatized in the future, than that it's acquired by the Chinese and basically another "soft power" tool of control for that government. Better for the people, better for Argentina, better for the world.

Remember, that with the Argentine immigration system (which, yeah, we all benefit from) flooding the country with Chinese workers like they have in Africa is utter child's play.

And I say this as someone who's broadly and fundamentally pro-free trade.

 

[Rich One]

They are protesting in order to try and keep their own cushy office jobs at Vicentin. Paid for doing little, they are, so they understandably protest the takeover.
Because if there is indeed a takeover, of course it will be an Aerolineas scenario, with new employees (you know which ones) put in place. So the old Vicentin employees don't want other people (picked by the State) to take over their nice lazy jobs.

You can pontificate these conspiracy theories about why they `protest ..! will never know if you are proven correct .! So your predicament is as correct as anybody else's theories. So it's pointless to debate your arguments.

 

[on the brink]

As of this morning, Alberto is busy backpedaling to get out the Vicentin mess Cristina pushed him into.