Corporate Predators Want Compensation for Lost Cuban Assets They Stole

[Judi Lynn]

Wednesday, December 24, 2014
Corporate Predators Want Compensation for Lost Cuban Assets They Stole
by Stephen Lendman

They never forget. Or forgive. Even for what happened over half a century ago. When Cuba got back what they stole.

When Castro ousted Fulgencio Batista's despotic rule, he nationalized foreign corporate assets. Originally valued at around $1.8 billion.

At 6% simple interest, now worth around $7 billion. From sugar processing plants, other factories, mines, oil refineries, power plants, hotels, 75% of Cuba's arable land, cattle ranches, other assets.

US companies have 5,913 outstanding claims. Including from ExxonMobil, Coca-Cola, Freeport-McMoRan, Colgate-Palmolive, Procter and Gamble, Goodyear, Firestone, General Motors, Owens-Illinois, Avon Products, Starwood Hotels & Resorts Worldwide and many others.

Office Depot is the largest claimant. It wasn't around during the revolution. A Cuban Electric subsidiary supplied over 90% of the island's electricity.

Its nationalized operations included a utility plant. Worth over $200 million at the time. In 1969, Boise Cascade became a majority Cuban Electric owner.

More:
http://sjlendman.blogspot.com/2014/12/corporate-predators-want-compensation.html

[Demeter]

1. They wrote those losses off long ago--no double-dipping!

Enough is enough.

[bemildred]

2. How do you say "tough shit" in Spanish? nt

[Peace Patriot]

3. My God, what a ROGUES GALLERY of evil-doers!

ExxonMobil, Coca-Cola, Colgate-Palmolive, Procter and Gamble, Goodyear, Firestone, General Motors!!!!

And Avon, Office Depot and the others, right in there with the most evil entities ever to sit astride the world--the worst polluters, the worst destroyers of our only home, Planet Earth, the worst destroyers of democracy and community! Here's hoping that we one day throw these monsters off, and that we do it before they can loot and ravage Cuba.

[Mika]

4. Cuba has settled with most all non-American entities that had expropriations.

It is the US gov't that prevents US based claimants from settling with Cuba... they would face violations of the US's own Trading With the Enemy Act.