Some time ago, Kodak, a technology company focused on imaging that became obsolete due to today’s technology, had an advertising campaign whose slogan was "Kodak moment." On the same note, Venezuela lived a "Kellogg’s moment" on Tuesday when the local subsidiary of cereal company announced it was shutting down operations in the country on Tuesday, evidencing – once again – how an obsolete ideology makes companies disappear and any country a living hell.
This is not the first company that shuts down its operations in Venezuela. Since the late Hugo Chávez came to power the disappearance of companies, a drop in production and the loss of jobs in the formal sector have become usual. The fundamental reason has been harassment, so to speak, from the Government.
Among the latest to shut down ops stand out General Motors, Clorox and Kimberly Clark. The last two were expropriated by the Government and their production disappeared, something that also happens with many of the companies that were already in the hands of the State, an evil that the so-called "Bolivarian revolution" has spread over state-run oil company PDVSA, whose crude oil production has experienced a steep drop over the past several months.
In the case of Kellogg’s, some 550 direct jobs will be lost and will also affect domestic corn growers, according to some sources.
The company’s directors have shown no confidence in the Venezuelan judicial system, which is mainly comprised of judges willing to take any action to comply with the orders coming from the Miraflores presidential palace. What happened to the directors of Banesco, Venezuela’s largest private bank, early this month is an example of what we are saying here.
Venezuela is a country without productive enterprises, without the rule of law, without decent jobs, a country condemned to what lives today: hunger, backwardness, misery. It’s a country without a future.
Venezuela continues to go downhill fast, without brakes and with Nicolás Maduro at the steering wheel. That driver definitely needs to be changed.