Companies acquired by Pdvsa report losses

[naaman fletcher]

The multiple responsibilities assigned to state-run oil company Petróleos de Venezuela (Pdvsa), both in core areas and in non-oil activities, have boosted its operating costs. In the case of industrial and agricultural companies purchased since 2008, most of them are no longer profitable and reported losses during the 2010 fiscal year.

http://www.eluniversal.com/2011/08/22/companies-acquired-by-pdvsa-report-losses.shtml

Heck of a job, Hugo!

[ChangoLoa]

1. When you put a party official at the head of a complicated industry...

Unfortunately, full loyalty and complete abstinence from any critical position are highly prized qualities in a Party-State.