Venezuela - Communism Full Steam Ahead

Venezuelan President Hugo Chávez and congressional allies passed a bill to nationalize gasoline. The law means an end to wholesale sales by private companies in the country. Distributors have 60 days to negotiate the sale of their businesses to the government.

Deja Moo

The feeling you've heard this bullshit before.

Commodities price bubble hasn't burst yet, analysts say. Commodities prices increased 29% during the six months prior to the end of June and then dropped 10% in July, their worst month in nearly three decades. Although prices have continued to slide, most analysts are not ready to call the bursting of the commodities bubble. Instead, they offer reasons for the recent price declines and why a collapse is not expected.

Source: The Economist

Corel Corporation on the block

Corel today stated that it is in discussions with a third party regarding a potential sale of the company.

FRE and FNM in free fall

(AGAIN)

FRE and FNM are down 17.8% and 16.8%, respectively. FNM is worth $5.3B at $4.95 a share and has lost 93% of its value in the last year. FRE is now worth $2.2B at $3.42 a share and has lost 95% of its value in the last 10 months.

Anybody still think Chavez isn't an out-and-out communist?

Venezuelan President Hugo Chavez is set to tighten his government's grip on the economy by taking over his first bank, the local unit of Spain's Banco Santander SA. Plans to nationalize the country's third-largest bank, announced yesterday, will give the state access to Banco de Venezuela SA Grupo Universal's 285 offices and $9.46 billion in deposits. It follows nationalizations in the oil, steel, cement, electricity and telecommunications industries. Chavez said he will pay "fair compensation" and said he has been in touch with the bank's local president, and that he is interested in seeking a "friendly agreement.''