Wednesday, May 30, 2007

Mugabe Wants to Seize Foreign Owned Companies in Zimbabwe

Fire of Liberty

Well it looks like Robert Mugabe and his team of "wise men" have decided, in their diluted minds, that they can turn around the economy of Zimbabwe by pushing through a law that forces foreign-owned businesses to hand over its controlling majority to the government. After looking at past seizures of farms, 2,200% inflation, massive starvation and the forcing of hundreds of thousands of poor people from their homes, I'd say that maybe this is a bad move. Mugabe and his friends might think that they can seize such companies and place their own chums at the helm and everything will sail along just fine but they fail to realize that the reason such places are making money(Even in Zimbabwe) is due to the fact that they have experts who have been there many years and now what they're doing. In reality, Mugabe and his people have dried up the resources from its people and are eyeing these companies as yet another feast to gorge on. Here's hoping that Barclays, Standard Charter, Unilever, Rio Tinto and others divest and cut their losses rather than letting Mugabe's and his chums bleed them dry.

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