That's what you get when you move your companies to a foreign country and leave Americans high and dry. Sorry about your luck, Chump!

US expects Venezuela to compensate expropriated firm

(AFP) – 7 hours ago

WASHINGTON — The United States said Tuesday it would expect Venezuela to properly compensate the local affiliate of the US-based glass maker Owens-Illinois after Caracas said it will expropriate the firm.

"Statements are one thing. We'll see what actual actions take place," State Department spokesman Philip Crowley told journalists in response to the announcement from Caracas.

"But we would expect Venezuela to provide prompt, adequate and effective compensation for any expropriation of the investments of Owens-Illinois in accordance with international law or any other private business ... present in Venezuela," he added.

Venezuelan President Hugo Chavez late Monday announced the expropriation of the local affiliate of the US-based firm, accusing it of causing environmental damage and exploiting its workers.

Chavez added that his government has "a list with more names" of companies that will be expropriated, but gave no further details.

Owens Illinois Inc. is a leader world glass bottle maker with some 22,000 workers in 21 countries.

The US company has operated in Venezuela for 52 years, and has two plants that make bottles and containers for beer, drinks, food and liquor.

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