zerohedge: Venezuela’s economic depression has claimed yet another victim, as Goodyear Tire announced it would shutter its Venezuela operations and lay off its entire local workforce, the latest foreign corporation to close shop in the crisis-torn county. On Monday, employees arrived at the company’s lone plant in the industrial city of Valencia to find it closed with a letter posted on the door. “Goodyear Venezuela has been forced to cease operations,” according to a copy seen by Bloomberg.
The departure of foreign companies from Venezuela is hardly surprising: in fact, it is remarkable that Goodyear manages to last as long as it did. What was more notable was how the company said goodbye to its employees one last time. According to Eduar Bremo, a member of Goodyear’s factory-workers union, the company is not only paying (token) severance packages to its more than 1,200 employees but is also giving each 10 tires, which have become hugely valuable in the shortage-wracked socialist paradise. According to Bremo, the plant produced some 1,000 tires a day, but a lack of materials and soaring costs forced it to shut its doors. read more
When the rubber meets the road….
Or something.
“Here’s a pair of studded snow tires to feed your family with. Good luck.”
Well, the tires were going to be looted by government thugs so might as well give em to the workers as a party gift.
Don’t tread on us. See ya.
They thought of a way to decrease the tire inventory and help the employee’s at the same time.
I’ll give em $.050 on the Dollar for those Tires…
Necklacing is the practice of extrajudicial summary execution and torture carried out by forcing a rubber tyre, filled with petrol, around a victim’s chest and arms, and setting it on fire. The victim may take up to 20 minutes to die, suffering severe burns in the process.
Apparently double axle dump trucks (10 wheels) are the primary vehicles used in Venezuela. Not surprising for socialist country, haul it to the dump.
Those’ll come in handy, when they start ‘necklacing’ their leaders, to repay them for starving them to death! 😳
Or lash them together to make rafts, Cuban style. Remember, socialists killed the radial star…
I just bought a set of 4 brand new Goodyear all season radial tires for my car from my brother. I wonder if they were made in Venezuela, I don’t know. I did ask him if Goodyear still made tires in Akron, Ohio like they used to do, he didn’t know either.
geoff, I just drove thru Akron about a month ago on a visit to OH. Goodyear plant still operating, although I do not know at what capacity.
@geoff the aardvark & DaveVA:
Goodyear’s world HQ is Akron. They have a huge blimp facility, plus they do a lot of their R & D and their racing tires in Akron. I believe most of the actual manufacturing of general auto tires is elsewhere (all over the world). Downtown Akron does not have the pervasive, overwhelming stank of tire
Too bad for them it wasn’t a Remington factory…
I’m TIRED of this $hit!