Chrysler to take $130 million charge due to weaker Venezuelan currency

[FrodosPet]

Call the Wahhhmbulance! If Chrysler doesn't like it, GTF out of Venezuela! Just leave your existing parts, machinery, and banked capital behind and watch the workers, under the wise and beneficent leadership of President Maduro, transform the plant into a national treasure, building vehicles for people, not profits!

http://www.freep.com/article/20140411/BUSINESS0103/304110089/chrysler-earnings

Chrysler said it will take a $130 million charge against first-quarter earnings because of the falling value of Venezuela’s currency, the bolivar.

The Auburn Hills automaker will now use an exchange rate of 10.7 bolivars to the dollar, rather than the previous rate of 6.3 to the dollar. That means revenue from vehicles sold in Venezuela are worth fewer dollars.

~ snip ~

Chrysler has a plant in Valencia, Venezuela, that assembles the Jeep Cherokee, Jeep Grand Cherokee and Dodge Caliber.

The automaker, in a document filed with the U.S. Securities and Exchange Commission, said it “is possible that there will be significant changes to the exchange rate in future quarters which could have a further material effect on our Venezuelan subsidiary’s financial statements.”

[tritsofme]

1. Lol yes, Dear Leader knows best.

The sad thing is, I'm reasonably certain you weren't being sarcastic, hopefully I'm wrong! It's hard to tell the difference between a satirist and their subjects these days.