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Seeking cash, Chavez looks to sell Citgo

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  • #16
    Originally posted by JAD_333 View Post
    I don't get you guys. GITGO is an American company no matter who owns it. If it goes belly up, in Houston alone 3,000 people will be out of work. Is that what you want?
    Somebody owns a note on it somewhere and the facilities just won't be abandoned. When its value has declined to its lowest, capitalism will take over. Someone with the capital will buy the facilities and revive it, this time hopefully, not as a communist money machine. It would be too good a deal to pass up.

    I think GM filing Bruptcy and restructuring would have been preffered to the bailout. Should Obama bailout Citgo? How would that deal smell?