Elektra Leaving Argentina

[PaulBee]

Grupo Elektra, which runs a huge banking and electronics empire in
several Latin American countries is closing shop in Argentina due to
currency restrictions, ec. They say they can´t operate in the current
business envioronment in Argentina.
It´s a shame. Elektra´s banks ("Azteca") are open 365 days a year
in some countries:
http://finance.yahoo.com/news/grupo-elektra-announces-withdrawal-liquidation-233347729.html;_ylt=A2KJ3CZjUGNSMlcAU.XwFAx.

 

[el_expatriado]

Good riddance. This is a payday loan type place. They sell you junk electronics on credit and charge you 3-4 times the value of what you're buying in interest.

These people add no value to the economy. They just prey on low-income shoppers who don't know better.

 

[artigas]

Lucky for Argentina’s low-income shoppers that there are people like el_expatriado looking out for their best interests. There is no way that they could ever have made the simple decision to not buy on credit from the obviously evil Grupo Electrico on their own. They can now rejoice that no longer will they be forced to buy junk electronics and pay 3-4 times their value. Now that the cheap electronics have been purged from the Argentine market, they should now go and buy high quality Apple ipads, ipods and computers and use B&O noise cancelling headphones to listen to podcasts about the evils of capitalist exploitation and enjoy the simple pleasures of timeless revolutionary class solidarity songs. Better yet, why not get the Argentine government to start producing “electronicos para todos” in the under utilized electronics factories of Tierra del Fuego and ban all imports of cheap goods by those nasty foreigners bent on exploiting the Argentine people. Have not the poor people of Argentina been historically served so well by people such as el_expatriado, who due to their superior intellect, education and noble motives, instinctively know what is better for the unwashed masses.

 

[PaulBee]

I understand the criticism of Elektra stores, but I think it´s a shame that their bank, Azteca, didn´t get going in Argentina. Azteca (in Mexico) is unique among banks: it allows people who otherwise couldn´t have a bank account to have one, branches are open long hours, 365 days a year and Azteca pays higher interest than other banks.

 

[scotttswan]

Lucky for Argentina’s low-income shoppers that there are people like el_expatriado looking out for their best interests. There is no way that they could ever have made the simple decision to not buy on credit from the obviously evil Grupo Electrico on their own. They can now rejoice that no longer will they be forced to buy junk electronics and pay 3-4 times their value. Now that the cheap electronics have been purged from the Argentine market, they should now go and buy high quality Apple ipads, ipods and computers and use B&O noise cancelling headphones to listen to podcasts about the evils of capitalist exploitation and enjoy the simple pleasures of timeless revolutionary class solidarity songs. Better yet, why not get the Argentine government to start producing “electronicos para todos” in the under utilized electronics factories of Tierra del Fuego and ban all imports of cheap goods by those nasty foreigners bent on exploiting the Argentine people. Have not the poor people of Argentina been historically served so well by people such as el_expatriado, who due to their superior intellect, education and noble motives, instinctively know what is better for the unwashed masses.

Its ok, those people can buy bitcoins instead! :lol:

 

[el_expatriado]

Artigas, I never said the gov't should ban these people. But I'm not going to cry a river for a company like this who leaves the market. There are plenty of examples of decent companies that have had to pack up and leave due to bad gov't policies. I don't have to lament a company like this that preys on the poor when they shut down.